Yes, the news is somewhat bullish. But don't be afraid to cut and run. Some money regained is much better than losing everything. Voice of experience there, LOL.
WiCell Research Institute and Advanced Cell Technology Offer to Distribute New Stem Cell Lines to U.S. Researchers; Agreement Subject to U.S. Federal Government Recognition and Funding of Cell Lines
Sep 12, 2006 10:48:00 AM
Copyright Business Wire 2006
MADISON, Wis. and ALAMEDA, Ca.--(BUSINESS WIRE)--Sept. 12, 2006--
The WiCell Research Institute (WiCell) and Advanced Cell Technology (OTCBB:ACTC) announced today an agreement, in principle, to collaborate to jointly distribute to U.S. scientists a range of new cell lines. These stem cell lines would be produced using a recently announced technique in the peer-reviewed journal Nature, provided that the United States federal government recognizes these new lines and funds research utilizing them. Under their collaboration, agreed in principle between the parties, Advanced Cell Technology and WiCell hope to make the new stem cell lines readily available to U.S. scientists for medical research.
In its role as the National Stem Cell Bank, WiCell has taken a leadership role in providing cells to academic researchers by providing a free license and training to scientists interested in pursuing this new technology. More than 350 academic research groups are working with cells from WiCell. Under the agreement in principle, WiCell, a subsidiary of the Wisconsin Alumni Research Foundation (WARF), would distribute stem cell lines derived from Advanced Cell Technology's proprietary method, if approved by the President and the National Institutes of Health.
"Provided that the federal government is willing to fund future human embryonic stem cell research where it can be demonstrated that the embryo was not harmed, we will do our part in scaling up many new lines under Good Manufacturing Processes (GMP) guidelines and making such lines available," stated William M. Caldwell, IV., Chief Executive Officer of Advanced Cell Technology. "We are well aware of the impact that delays in advancing new therapies can have on people in need of therapy and provided that the federal government advances legislation in an expeditious manner, we will make the derivation of new lines a company priority."
"Advanced Cell Technology's development is very encouraging," stated Elizabeth Donley, Executive Director of WiCell. "We are hopeful that future human embryonic stem cells created by this new process can be approved for federal funding. Increasing the number of federally funded stem cell lines is essential for speeding the development of this important technology to treat many of human kind's most serious diseases and injuries. WiCell has agreements to distribute 13 of the 21 lines currently available on the National Institutes of Health Registry. We will continue our effort to provide all lines that are eligible for federal funding."
About the WiCell Research Institute
The WiCell Research Institute is dedicated to expanding the frontiers of science and medicine by unlocking the potential of stem cells. As a subsidiary of the Wisconsin Alumni Research Foundation and a supporting organization of the University of Wisconsin-Madison, WiCell conducts research, supports research at UW-Madison, hosts the National Stem Cell Bank, provides training for scientists, and offers educational outreach programs for K-12 students and the community.
About Advanced Cell Technology, Inc.
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, please visit http://www.advancedcell.com.
Forward-Looking Statements
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-QSB for the quarter ended June 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.
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