Chairman’s Blog Post: Continuing the Momentum: An Update to Shareholders from Interim Chairman and CEO, Gary Rabin Dear Shareholders,
I am sure you were as stunned and saddened as I was by the news of the untimely passing of ACT’s beloved Chairman and CEO, Bill Caldwell. Everyone at ACT is mourning the loss of a great man.
It is particularly sad that Bill will not be here to witness the year 2011 for ACT, as I truly believe it will be, by far, the best in the company’s 16-year history. Bill has left us with a legacy of success and achievement, having brought the company up to a very strong position through dedication and perseverance, and we intend to aggressively build on that position.
I would like to start by introducing myself. I have been a member of ACT’s Board of Directors since 2007. I have been in the field of finance for over 20 years, primarily in investment management and capital-raising, targeting small-cap and emerging growth companies, but I also have operating experience in the technology industry. I am the Managing Partner of GR Advisors, LLC, a hedge fund, and of Villetta Management, LLC, a restaurant management company, both based in Los Angeles. I have served in senior positions in a variety of capacities in my career, and have worked with governments and private companies in every corner of the world, and I see taking the helm as Interim Chairman and CEO of ACT as a natural fit for my talents.
In this blog post I will review some of our recent accomplishments at ACT, as well as our future plans, and in doing so, hope to share with you why it’s clear to me that the company’s best days are ahead.
ACT achieved a number of its most important milestones in the past few months, including the following two in just the past month:
• In November we announced that we had received FDA approval to initiate the first-ever human Clinical Trial using retinal pigment epithelial (RPE) cells derived from embryonic stem cells (hESCs) to treat eye disease (specifically, Stargardt’s Macular Dystrophy, or SMD). We plan to initiate this clinical trial in early 2011.
He's dead nuts right about caldwell!! greatness, intuitiveness, brillance, astuteness, perseverance, insightful, strategic, courageous, charming, dedicated, forward thinking, positive approach, "anything is possible", hard-working, voracious learner, reader and leader, team builder, phenomenal negotiator, loved leadership and did it inspiringly well!! they just don't make them like that anymore...how fortunate for act to have had caldwell's hand on the "throttle" for the time that he blessed that company with his know how and smile!!! Rip caldwell!!!