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ACT Obtains Exclusive License for Hemangioblast Technology in North America
Date:7/21/2011

unity-award/index.asp">won a National Institutes of Health (NIH) Director's Opportunity Award for research in "Translating Basic Science Discoveries into New and Better Treatments" under the American Recovery & Reinvestment Act of 2009. The NIH Award provides McLean Hospital and SCRMI with $1.9 million to explore the potential of protein-induced pluripotent stem (iPS) cells as a source of universal red blood cells and platelets for transfusion.  Drs. Lanza and Kim will continue to serve as principle investigators on this grant.

"We are very excited about this next step in our joint venture," said Hyung-Min Chung, Ph.D., chief technology officer of CHA Biotech and chief executive officer of SCRMI. "While still permitting us to leverage the combined expertise of our two companies, this new licensing and development arrangement should help to accelerate the development of clinical programs, and open the door to further government-sponsored research than had been available to SCRMI.  Fundamentally, we believe that the hemangioblast program has great potential to address many unmet medical needs through the use of stem cell technology, and feel that this realignment in licensing and research efforts is an important step towards CHA Biotech and ACT realizing those goals."

"Given the progress that has been made by our teams in the development of hemangioblast-derived products, coupled with bringing the scientists from the joint venture into ACT and Dr. Lanza's devotion to these programs, this new exclusive license affords ACT a unique new pipeline of therapeutic products, some of which are not that far from the clinic," added Gary Rabin, interim chairman and chief executive officer of ACT. "The market opportunities around diabetes-related diseases alone are vast.  Diabetes is the leading cause of blindness, non-traumatic limb amputations, and cardiovascular morbidity and mortality, each of which may be treatable using hemangioblast-deri
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SOURCE Advanced Cell Technology, Inc.
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