Ocata Therapeutics Inc fka OCAT

[rocky301]

Thanks breakbad, here it is in print



Advanced Cell Technology Prepares IND Filing With the Capability to Produce Stem Cell Lines without the Destruction of the Embryo

WORCESTER, Mass., Mar 12, 2009 (BUSINESS WIRE) -- Advanced Cell Technology, Inc. (OTC: ACTC ) announced today that it is finalizing preparations to file an IND in the second half of this year with the Food and Drug Administration for the Company's retinal pigment epithelium (RPE) cell program for the treatment of diseases of the eye. It has available the only technology that can today produce stem cell lines without the destruction of the embryo. While President Obama recently issued an Executive Order that authorizes expanded federal funding for research using stem cells produced by destroying human embryos, the decision remains controversial as some believe that the Government should not fund the ongoing destruction of human embryos. In the coming months Congress will be debating altering or eliminating the Dickey Wicker Amendment which is at the core of this controversy. Advanced Cell Technology's stem cell platform offers a compromise on this issue, as described in peer review scientific journals published over the past several years. Over 3000 healthy children have undergone the medical procedure, PGD, which is at the core of ACTC's technology.
"We believe that the issue of whether the Federal government should fund the destruction of human embryos has become unnecessarily politicized," said William M. Caldwell IV, Chairman and CEO of Advanced Cell Technology, Inc. "ACTC has repeatedly demonstrated that it can develop stem cell lines without the destruction of the embryo utilizing its single cell blastomere technology. While we are fortunate that we have been able to secure financing to take our RPE program into the clinic, we feel that once the Federal government and scientific communities realize that it is possible, through the use of our technology platform, to satisfy the requirements of both conservatives and liberals, the Company should be able to secure significant federal funding to utilize this technology for research and development. Although we have previously announced receipt of small grants from the NIH, we have been rebuffed in our efforts to utilize this particular technology in federally funded programs. We offer a unique solution to a widely-debated problem which should under the current environment facilitate federal acceptance and funding for the application of our technology to new and existing research and development programs."

Yesterday, the Company announced that it had secured the requisite funding for the expressed purpose to file an IND application this year, and to support both Phase I and Phase II clinical trials. An IND filing is required before a company can commence clinical trials. The Company believes its proprietary "single blastomere technology" has the potential to generate stable cell lines, including retinal pigment epithelium (RPE) cells for the treatment of diseases of the eye. There are some 200 different retinal diseases that may be impacted by this stem cell derived therapy including macular degeneration, which represents a $28 billion dollar market. Age-related macular degeneration (AMD) affects more than 30 million people worldwide and is the leading cause of blindness in people over 60 years of age in the United States.

About Advanced Cell Technology, Inc.

Advanced Cell Technology, Inc. is a biotechnology company applying cellular technology in the field of regenerative medicine. For more information, visit http://www.advancedcell.com.