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Advanced Cell Technology, Inc.
Advanced Cell Technology Licenses ACTCellerate Technology to BioTime, Inc.
August 29th, 2008
Advanced Cell Technology, Inc. ("ACT") (OTC: ACTC) announced that it has granted an exclusive license to Embryome Sciences, Inc., a wholly owned subsidiary of BioTime, Inc., to use "ACTCellerate(TM)" embryonic stem cell technology and a bank of over 140 diverse progenitor cell lines derived using that technology. Under the agreement, ACT received an upfront payment of $250,000, and is eligible to receive an 8% royalty on sales of products, services, and processes that utilize the licensed technology. Once a total of $1,000,000 of royalties has been paid, no further royalties will be due. ACT has an option to reacquire rights to use the ACTCellerate technology for the development of certain...
Source: Health Business Week (2008-08-29)
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