Worcester, MA – January 24, 2005 – Concurrent with the initial closing of its Series A financing on December 31st, 2004, the Board of Directors of Advanced Cell Technology has appointed Mr. William Caldwell, IV as Chief Executive Officer of the Company. The Board of Directors has also appointed Dr. Michael West as Chairman, President and Chief Scientific Officer of the Company.
Regarding this announcement, Mr. Caldwell said, “I am incredibly excited to join Michael and the entire team of Advanced Cell Technology and bring my 30 years of expertise in managing corporate organizations to this rapidly growing enterprise. Advanced Cell Technology’s combination of our second-to-none scientific team and our ever-expanding portfolio of intellectual property in the field of regenerative medicine and stem cell research is unparalleled in this field of study. We will use this new capital and a broad collaboration strategy to accelerate the pace of our scientific research in 2005.” Dr. West responded, “With Bill joining the Company, we have complemented our top scientific team with a Chief Executive Officer who has a wealth of experience in managing growth companies, both public and private. His corporate expertise and relationships open many new financing and collaboration opportunities to the Company. Most importantly, Bill’s appointment enables me to focus the vast majority of my time and efforts on increasing our scientific research and ultimately expanding our portfolio of intellectual property in the field of regenerative medicine and stem cell research.”
Mr. Caldwell brings over 30 years of management expertise to Advanced Cell Technology and has worked with emerging technology companies, public companies and corporate restructurings. During his career he has served in senior executive positions both in marketing and finance. He has broad industry experience, which includes advising corporations, both public and private, in technology, pharmaceuticals, telecommunications, retailing, real estate, hospitality, publishing, and transportation. He received his B.A. degree from the University of Southern California and was a Multinational Enterprise Fellow at the Wharton School of Finance.
Michael D. West, Ph.D., is widely regarded as one of the leaders and founders of the field of regenerative medicine and stem cell research. Dr. West has extensive academic and business experience in age-related degenerative diseases, telomerase molecular biology and human embryonic stem cell research and development. Dr. West founded Geron Corporation, and from 1990 to 1998 served as a Director and senior executive officer of Geron, where he initiated and managed programs in telomerase diagnostics, telomerase inhibition, telomerase-mediated therapy and human embryonic stem cell research. From 1999 to present, Dr. West has served as Chairman and CEO of Advanced Cell Technology and has led its research effort in human stem cells. Dr. West received a B.S. Degree from Rensselaer Polytechnic Institute in 1976, an M.S. Degree in Biology from Andrews University in 1982 and a Ph.D. from Baylor College of Medicine in 1989.
Advanced Cell Technology is a biotechnology company focused on discovering and commercializing advances in stem cell technology for application in regenerative medicine. Additional information regarding Mr. Caldwell, Dr. West, and Advanced Cell Technology can be found at http://www.advancedcell.com.