Alameda, CA, May 8, 2006 – Advanced Cell Technology, Inc. (OTCBB:ACTC) has formed an Institutional Review Board (“IRB”) and plans to initiate scientific work in the area of Somatic Cell Nuclear Transfer (“SCNT”). The formation of the IRB represents a significant milestone for the Company as it achieves two important goals. First, the IRB will review specific scientific work conducted by the Company as required per Massachusetts’ new stem cell bill which came into effect late last year. Secondly, the IRB will review plans for future preclinical testing and clinical trials as the Company moves forward in its therapeutic programs.
The IRB was formulated in January 2006, and is comprised of many experienced and distinguished members. The IRB is chaired by Judith A. Frazier, RN, M.Ed. Ms. Frazier is the Manager of the Metabolic Research Unit at the Jean Mayer Human Nutrition Research Center on Aging (HNRCA) at Tufts University. The Metabolic Research Unit recruits approximately 3,000 adult subjects every year for population, longitudinal, metabolic and free-living nutrition studies. She is also a Vice-Chair of the Tufts-University-New England Medical Center Institutional Review Board. Renee Landers, J.D., serves as Vice-Chair. Ms. Landers is an Associate Professor of Law at the Suffolk University Law School where she focused on Health Law and Administrative Law. The IRB recently held several meetings and has approved the Company’s SCNT program.
The IRB carefully reviewed the Company’s plan to solicit volunteer donors of embryos and oocytes for the SCNT program. In accordance with California and Massachusetts law and the guidelines set out by the National Academy of Sciences, such volunteer donors will receive no compensation other than the reimbursement of certain permitted expenses and will be required to acknowledge and execute a detailed donor consent form. The Company recognizes that the progress of this program is dependent upon identifying volunteer donors and hopes that the public will recognize the promise of this research for millions of patients and respond accordingly.
William Caldwell, CEO of Advanced Cell Technology, said, “We have taken several months to work with our IRB to restart this SCNT program with appropriate and careful planning and oversight. Late last year this entire area was ensconced in significant controversy due to disclosures out of Korea of scientific impropriety. Advanced Cell Technology has long been considered a leader in the area of SCNT. Our scientists now look forward to the opportunity to assist the medical community in validating this important technology platform.”
“We at ACT recognize the importance of SCNT as a platform technology for addressing immune rejection in a significant number of potential treatments and therapies derived from the field of regenerative medicine.” said Michael West, Ph.D., President and Chief Scientific Officer of Advanced Cell Technology. “The goal of this program is to demonstrate the efficacy of SCNT and other related nuclear reprogramming technologies in humans.” The Company believes that SCNT and other related nuclear reprogramming technologies will prove a cornerstone in delivering on the promise of stem cell research and regenerative medicine as a whole.
“In the coming years, we hope embryonic stem cell technology will be moving from the laboratory into the clinic,” said Robert Lanza, Vice-President of Medical & Scientific Development at ACT. “Although we are learning how to generate various replacement cell types that could be used to treat patients suffering from a long list of diseases, there still remain profound immunological issues. SCNT might eliminate the immune responses associated with the transplantation of these various tissues. Cells resulting from SCNT are not only histocompatible, but they have also been shown to be more youthful, and potentially of greater therapeutic value than adult stem cells.”
Advanced Cell Technology, Inc. is a biotechnology company applying embryonic stem cell technology in the emerging field of regenerative medicine. The company operates facilities in Alameda, California and Worcester, Massachusetts. For more information about the company, please visit http://www.advancedcell.com.
Statements in this news release regarding future financial and operating results, future growth in research and development programs, potential applications of our technology, opportunities for the company and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates,” and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: limited operating history, need for future capital, risks inherent in the development and commercialization of potential products, protection of our intellectual property, and economic conditions generally. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in the company’s periodic reports, including the report on Form 10-KSB for the fiscal year ended December 31, 2005.
Forward-looking statements are based on the beliefs, opinions, and expectations of the company’s management at the time they are made, and the company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change.
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