Advanced Cell Technology Inc. Garners $5,000,000 New Financing Round
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Feed Type
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Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=2492548f-30f5-49aa-b5f5-7a9ad0d73b62&Preview=1 -
Date
3/12/2009 -
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
$5,000,000 -
Transaction Round
Undisclosed -
Proceeds Purposes
Advanced Cell believes that the proceeds will be sufficient for the Company to file an IND for its RPE program this Summer, and will allow the Company to complete both Phase I and Phase II studies in humans -
M&A Terms
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Venture Investor
Undisclosed
