Advanced Cell Applauds $3 Billion Stem Cell Research Program, Proposition 71, Upheld Monday By A California Appeals Court.ALAMEDA, Calif. -- Advanced Cell Technology, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ACTC ACTC Apple Certified Technical Coordinator ACTC Almaden Cycle Touring Club ACTC Associated Colleges of the Twin Cities ACTC All Ceylon Tamil Congress (Sri Lanka) ACTC Association Canadienne de Télévision par Câble ) applauds the $3 Billion Stem Cell stem cell In living organisms, an undifferentiated cell that can produce other cells that eventually make up specialized tissues and organs. There are two major types of stem cells, embryonic and adult. Research Program, Proposition 71, upheld Monday by a California appeals court. In a unanimous 3-0 ruling judges said Proposition 71 "suffers from no constitutional or other legal infirmity Flaw, defect, or weakness. In a legal sense, the term infirmity is used to mean any imperfection that renders a particular transaction void or incomplete. For example, if a deed drawn up to transfer ownership of land contains an erroneous description of it, an ." William M. Caldwell, IV, Chairman and Chief Executive Officer of Advanced Cell Technology, commented, "California's Proposition 71 may be the world's largest single backer of research in stem cells stem cells, unspecialized human or animal cells that can produce mature specialized body cells and at the same time replicate themselves. Embryonic stem cells are derived from a blastocyst (the blastula typical of placental mammals; see embryo), which is very young . We believe a capital infusion Capital infusion Often refers to the cross-subsidization of divisions within a firm. When one division is not doing well, it might benefit from an infusion of new funds from the more successful divisions. could dramatically benefit the stem cell industry, and will fund translational programs, designed to enter the clinic in the near term. We are very proud of Governor Schwarzenegger and California's leadership in helping to maintain a competitive environment for commercial research and development in the stem cell field. We are also fortunate to be headquartered in the great state of California as Advanced Cell works to accelerate its stem cell therapies to the bedside." Monday, in a public statement, Governor Schwarzenegger said, "Today's ruling is a victory - I always believed the courts would uphold the will of California voters. Stem cell research holds our best promise to find a cure for debilitating de·bil·i·tat·ing adj. Causing a loss of strength or energy. Debilitating Weakening, or reducing the strength of. Mentioned in: Stress Reduction illnesses, like Parkinson's disease Parkinson's disease or Parkinsonism, degenerative brain disorder first described by the English surgeon James Parkinson in 1817. When there is no known cause, the disease usually appears after age 40 and is referred to as Parkinson's disease. and diabetes. I'm also proud of California's leadership - we have already awarded the first round grants to researchers to begin work on this potentially life-saving science." According to the New York Times, Robert N. Klein, chairman of the board overseeing the stem cell program, said the decision was so strong that he thought the California Supreme Court would decline to hear the case if the ruling were appealed and if the Supreme Curt turned away the case, the state could being issuing bonds as soon as 120 days from now. About Advanced Cell Technology, Inc. Advanced Cell Technology, Inc. is a biotechnology company applying embryonic stem cell Embryonic stem cells (ES cells) are stem cells derived from the inner cell mass of an early stage embryo known as a blastocyst. Human embryos reach the blastocyst stage 4-5 days post fertilization, at which time they consist of 50-150 cells. ES cells are pluripotent. technology in the emerging field of regenerative medicine. The company operates facilities in Alameda, California and Worcester, Massachusetts. For more information about the company, please visit http://www.advancedcell.com. Forward-Looking Statements Statements in this news release regarding future financial and operating results, future growth in research and development programs, potential applications of our technology, opportunities for the company and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: limited operating history, need for future capital, risks inherent in the development and commercialization of potential products, protection of our intellectual property, and economic conditions generally. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in the company's periodic reports, including the report on Form 10-QSB for the quarter ended September 30, 2006. Forward-looking statements are based on the beliefs, opinions, and expectations of the company's management at the time they are made, and the company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change. |
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