"Advanced Cell Technology's William Caldwell Interviewed By Bloomberg Television Business Wire - January 05, 2007 08:44
CEO Comments on the Effect the New Congress Will Have On Stem Cell Funding in its First '100 Hours'
ALAMEDA, Calif., Jan 05, 2007 (BUSINESS WIRE) -- Advanced Cell Technology, Inc.'s (OTCBB: ACTC) William M. Caldwell, IV, Chief Executive Officer, was interviewed by Bloomberg Television yesterday to comment on the effect the new Congress will have on stem cell funding in its first "100 Hours." As part of an 8-point plan during this time period, Congress has promised to push legislation through that would increase government funding for stem cell research.
Mr. Caldwell spoke of his optimism: "Right now there are bills in front of Congress to expand the lines for stem cell research, but I'm hopeful that this Congress will be cognizant of the fact that this research needs funding. The most important segment of this funding needs to be the translation from the basic science into the development of therapies and products. This void needs to be addressed not only by the government but also by private industry, foundations and consumer groups."
Advanced Cell's commitment to driving therapies to the clinic was recently highlighted in the scientific journal Nature, in a study describing the use of retinal pigment epithelial (RPE) cells derived from the Company's embryonic stem cells, in which vision function was rescued in blind rats. The Company expects to file an investigational new drug application (IND) with the FDA this year for its RPE program. The company expects, further to file INDs for its hemangioblast cell lines for blood and cardiac disorder, and for its dermal cell lines for skin and wound repair, next year.
"We're encouraged with what's happened over the last couple years, not only in California but just recently nationwide with the changes in Congress," said Mr. Caldwell. "Funding stem cell research is a national issue, that should be funded by the National Institute of Health (NIH) and other branches of the government because they have the standards and the policies in place."