Alameda, CA, February 8, 2007 – Advanced Cell Technology, Inc. (OTCBB: ACTC) announced today that it has acquired the intellectual property assets of its former competitor Infigen, Inc. relating to somatic cell nuclear transfer (SCNT), parthenogenesis, and other related technologies. A total of 26 issued patents and numerous pending patent applications were acquired for a combination of cash and shares of common stock. The acquisition provides ACTC with exclusive ownership rights to critical technologies in regenerative medicine and the merger of assets is expected to strengthen ACTC’s intellectual property position in the drive towards commercialization of embryonic stem cell and SCNT technology.
“This tactical acquisition is a part of our long-term plan to become one of the leading companies in the field of regenerative medicine,” said William M. Caldwell, IV, Chief Executive Officer of Advanced Cell Technology. “We intend to use these technologies to further our product development and use the exclusive rights under these patents to protect the company and, as appropriate, leverage these patents through licensing transactions with potential strategic partners.”
Dennis McCormick, Chairman of Infigen, Inc., commented, “We are pleased to complete this transaction and believe Advanced Cell Technology is one of the preeminent stem cell companies with the ability to commercialize this technology.”
Infigen, Inc. heavily invested in its intellectual property portfolio relating to animal cloning and filed some of the earliest and most strategic patents in fundamental steps related to SCNT. One such critical step in SCNT is the activation of oocytes – a process designated “parthenogenetic activation”. Egg cells must be activated for SCNT to be successful. In a previous royalty-bearing cross license, ACTC acquired freedom to operate under the Infigen patents in the field of human cell therapy. However, with this acquisition, royalty obligations are removed and ACTC owns the patents exclusively for building its business in regenerative medicine and for use in licensing animal applications.
“We believe the Infigen intellectual property, when merged with our existing proprietary technologies, creates an impressive patent estate. The patents include fundamental technologies useful in the production of any type of cell or tissue matched to the patient through the process of SCNT,” said Dr. Michael West, ACTC’s President and Chief Scientific Officer. “In addition, in our experience, we believe that this portfolio provides us with a dominant patent position in the production of human embryonic stem cells by parthenogenesis wherein stem cells are made from an egg cell without fertilization or SCNT.
Dr. West continued, “Combining these patents under one roof should simplify the regenerative medicine patent landscape. We will license out the animal applications for use in agriculture and animal science and use the human technologies for our internal programs including applications in the retina, vascular system, and dermatology.”
Aquetong Capital Advisors assisted Infigen, Inc. in connection with this transaction.
Advanced Cell Technology, Inc. is a biotechnology company applying 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 visit 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 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-QSB for the quarter ended September 30, 2006.
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.
The Investor Relations Group
Investors: James Carbonara, 212-825-3210
Media: Bill Douglass, 212-825-3210
Source: Advanced Cell Technology, Inc.