Advanced Cell Technology Announces Fourth-Quarter And Year-end Results
Advanced Cell Technology, Inc. (“ACT”, OTCBB: ACTC or the “Company”), a leader in the field of regenerative medicine, today announced fourth quarter and year-end financial results for the period ended December 31, 2012.
Highlights from the fourth quarter included:
- Completed second patient cohort in all three clinical trials in the U.S. and Europe to treat Stargardt’s Macular Dystrophy (SMD) and dry Age Related Macular Degeneration (AMD), effectively reaching the halfway point of all three groundbreaking clinical trials.
- Received Data Safety and Monitoring Board (DSMB) approval to treat the second patient cohorts in the U.S. and European clinical trials for SMD and dry AMD and commenced enrollment and treatment of patients in the trial with the higher dosage of Embryonic Stem Cell-Derived Retinal Pigment Epithelial Cells.
- In addition to reporting that all 18 patients across the three trials have been treated and no safety issues had arisen( the primary purpose behind the Phase I studies is to assess safety), the Company also released positive interim data citing the integration of the RPE cells in the proper anatomical site in the eye and noted visual acuity improvements from the patients.
- ACT’s Induced Pluripotent Stem (iPS) Cell-Derived Human Platelet program chosen by New Scientist Magazine as one of “10 ideas that will shape the year.”
“2012 represented a transformative year for ACT both clinically and through favorable corporate developments,” said Gary Rabin, chairman and CEO of ACT. “The Company announced promising data from its most advanced clinical programs in AMD and SMD, and has made solid progress in bringing each of these programs through the clinical trials. ACT has also been able to remove many of the impediments to achieving a listing of its stock on a National Exchange, by eliminating significant contingent liabilities through resolution of outstanding litigation. We believe the Company is now well positioned to achieve both its clinical and corporate objectives in 2013.”
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