NIH Approves Stem Cell Line for Federal Funding, Advanced Cell Technology (OTCBB:ACTC)
Access to federal funding could accelerate clinical development. ACTC.OB’s or ACT’s human embryonic stem cell (hESC) line MA135 was unanimously approved for federal funding at the 100th Meeting of the Advisory Committee to the Director (ACD) National Institutes of Health (NIH).
This approval provides the opportunity to pursue non-dilutive federally funded research programs utilizing a stem cell line derived solely by technology that they deployed. There were previously only 67 hESC lines eligible for use in NIH-funded research.
In addition to MA135, 7 additional stem cell lines derived at ACT are currently under review by the NIH. 5 of these lines were produced without embryo destruction using ACT’s proprietary single-blastomere “embryo-safe” technology. The federal funding could accelerate the company’s clinical activities.
“We are extremely pleased with the NIH’s decision to add this line to their registry,” said Robert Lanza, M.D., Chief Scientific Officer of ACT. “This decision facilitates the use of embryonic stem cells as a potential source of replacement cells to treat a wide range of human diseases. This approval is a watershed moment for the company, because it provides the company with the opportunity to pursue non-dilutive federally funded research programs utilizing a stem cell line derived solely by technology that we deployed,” said William M. Caldwell IV, Chairman and Chief Executive Officer of ACT. “We are optimistic that we will secure approval for additional lines using our single-cell blastomere technology in the coming months as the NIH finalizes their Proposed Rule Making expanding the definition of what will constitute a stem cell line that is eligible for federal funding. We applaud the NIH for its ongoing efforts to make more stem cell lines available to the scientific community.”
Advanced Cell Technology(OTCBB:ACTC) shares advanced 10% this morning after the announcement and closed at $0.084 with a market cap of $70.40 M.