Advanced Cell Gets $2.8M

Luke Timmerman12/7/09

Worcester, MA-based Advanced Cell Technology, the developer of human embryonic stem cell technology, has raised $2.77 million in financing from debt and options, according to a regulatory filing. Half of the financing arrived in mid-November, and the other half is due within 90 days of the original closing, according to the regulatory filing. Last month, the company filed an application with the FDA to start a clinical trial of a stem cell therapy for an eye disease called Stargardt’s Macular Dystrophy.

Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.