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Advanced Cell Technology, Inc.
Advanced Cell Technology, Inc. Receives $500,000 Funding Commitment
October 24th, 2008
Advanced Cell Technology, Inc. (OTC: ACTC) announced that it has entered into a definitive agreement with Transition Holdings Ltd, an Irish institutional investor, under which it will sell $500,000 of one-year 7% convertible debentures over the next 90 days. The Company will use the proceeds for working capital, general corporate purposes and to continue the development of its most advanced clinical programs. The Company continues to seek partners to jointly develop its pre-clinical and certain clinical programs in heart failure, retinal disease and the production of red blood cells. "We are pleased that in a time of unprecedented volatility in the capital markets that...
Source: Health Business Week (2008-10-24)
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