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Advanced Cell Technology, Inc.
Advanced Cell Technology Secures $5 Million Credit Facility to Develop RPE Program for the Treatment of Diseases of the Eye
March 27th, 2009
Advanced Cell Technology, Inc. (“ACT” or the “Company”) (PINKSHEETS: ACTC) announced that it has entered into a definitive agreement with a life sciences fund (the “Investor”), which has offices in New York and California, under which the Company has secured a $5 million credit facility (the “Facility”). Proceeds from the Facility must be used exclusively for the development of the Company’s retinal pigment epithelium (RPE) cells program for the treatment of diseases of the eye. Advanced Cell believes that the proceeds will be sufficient for the Company to file an IND for its RPE program this Summer, and will allow the Company to complete both Phase I and Phase II studies in humans. An IND...
Source: Health Business Week (2009-03-27)
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