Advanced Cell Technology Inc. Receives $400,000 New Financing

  • Feed Type
  • Date
    3/4/2009
  • Company Name
    Advanced Cell Technology Inc.
  • Mailing Address
    381 Plantation Street Biotech V Worcester, MA 01605
  • Company Description
    Advanced Cell Technology, Inc. (OTCBB:ACTC – News) is applying stem cell technology in the field of regenerative medicine to bring effective, patient-specific therapies to the bedside. The company’s Myoblast program is an autologous adult stem cell therapy for the treatment of heart disease. The Myoblast program has successfully completed four Phase I clinical trials and has clearance from the FDA to begin Phase II trials shortly. The company is also rapidly moving towards human clinical trials for its embryonic stem cell therapies including its RPE and HG programs. ACT published positive data from animal studies for its RPE (retinal pigment epithelial) cell program for the treatment of retinal degenerative disorders completed in collaboration with the Casey Eye Institute at Oregon Health and Science University. The company also has GLP Safety Studies in process for its RPE Program. ACT published positive data in the journal NATURE Methods for its HG (hemangioblast) cell program for th
  • Website
    http://www.advancedcell.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $400,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    Proceeds from these transactions as well as other transactions in advanced discussions will be used to support the Company’s retinal pigment epithelium cells (RPE) program.
  • M&A Terms
  • Venture Investor
    CHA Biotech