Advanced Cell Technology Changes Name to Ocata Therapeutics
November 14 2014 - 8:02AM
Business Wire
New Name Reflects Company’s Focus on
Regenerative OphthalmologyTMNew Website Launched at www.ocata.com,
new ticker: OCAT
Advanced Cell Technology, Inc., (OTCBB: OCAT) today announced
the change of its company name to Ocata Therapeutics, Inc.,
effective immediately. The change, which has been approved by the
Company’s shareholders, reflects the Company’s focus on the
development of regenerative cell therapeutics for the treatment of
ophthalmic diseases. “Ocata” is a Native American name for
“healer,” a term associated with repair and regeneration as opposed
to merely slowing the progression of disease, or treatment of
symptoms.
Dr. Paul Wotton, President and CEO of Ocata Therapeutics, said:
“This is a time of transformation for our company as we continue to
advance our technology leadership position in Regenerative
Ophthalmology. With that, we determined it was important to select
a company name that best reflects our focus going forward. As we
prepare to initiate Phase 2 clinical trials for Stargardt’s macular
degeneration (SMD) and dry age-related macular degeneration (AMD),
we are positioning Ocata to lead the way in developing safe and
effective therapies for those suffering from either disease.”
In October, the Company announced results from two Phase 1/2
clinical trials published in The Lancet. The study demonstrated
positive first time, mid- to long-term safety results and signs of
visual improvement following transplantation of differentiated
retinal pigment epithelium cells (RPE) derived from stem cells, for
the treatment of both AMD and SMD. There are currently no approved
treatments for either disease.
About Ocata Therapeutics, Inc.
Ocata Therapeutics, Inc. is a clinical stage biotechnology
company focused on the development and commercialization of
regenerative ophthalmology therapeutics. Ocata’s most advanced
products are in clinical trials for the treatment of Stargardt’s
macular degeneration, dry age-related macular degeneration, and
myopic macular degeneration. Ocata’s intellectual property
portfolio includes pluripotent stem cell platforms – hESC and
induced pluripotent stem cell (iPSC) – and other cell therapy
research programs. For more information, visit www.ocata.com.
About Age-related Macular Degeneration
Age-related macular degeneration is the leading cause of vision
loss in people over the age of 50. Every year in the USA there are
1.8 million patients newly diagnosed with dry AMD which occurs when
light-sensitive photoreceptor cells in the macula, located in the
center of the retina, slowly break down, causing vision loss as a
result. Photoreceptor breakdown is a consequence of loss or damage
to the RPE layer. As the disease progresses, patients may have
difficulty reading and recognizing faces. There is currently no
proven medical therapy for dry AMD and the projected number of
people worldwide with age-related macular degeneration in 2020 is
196 million, increasing to 288 million in 2040 underscoring the
urgent need for new treatments.
About Stargardt’s Disease
Stargardt’s macular degeneration is a form of juvenile macular
degeneration that affects vision in children and young adults
between the ages of six and 20, with a prevalence of approximately
one in 10,000 people in the United States. It is an orphan disease
and loss of vision is an inevitable aspect of SMD, with more than
half of the patients experiencing vision loss in the range of
20/200-20/400. Like dry AMD, it occurs as a result of damage to the
RPE layer and there are no treatments currently approved to prevent
or slow the vision loss associated with SMD.
Forward-Looking Statements
All statements, other than historical facts, contained in this
news release, including statements regarding the relevance and
applicability of clinical trials, potential new applications of and
expanded indications covering Ocata’s technology, the effect of
Ocata’s products on the medical needs and quality of life of study
subjects or other patients, Ocata’s potential product pipeline and
development efforts, and any other statements about Ocata’s future
expectations, beliefs, goals, plans, results or prospects expressed
by management constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Any statements that are not statements of historical fact
(including statements containing the words “will,” “believes,”
“plans,” “anticipates,” “expects,” “estimates,” and similar
expressions) should also be considered to be forward-looking
statements. There are a number of important factors that could
cause actual results or events to differ materially from those
indicated by such forward-looking statements, including: the fact
that Ocata has no product revenue and no products approved for
marketing; Ocata’s limited operating history;, the need for and
limited sources of future capital; potential failures or delays in
obtaining regulatory approval of products; risks inherent in the
development and commercialization of potential products; reliance
on new and unproven technology in the development of products; the
need to protect Ocata’s intellectual property; the challenges
associated with conducting and enrolling clinical trials; the risk
that the results of clinical trials may not support the Company’s
product candidate claims; even if approved, the risk that
physicians and patients may not accept or use Ocata’s products;
Ocata’s reliance on third parties to conduct its clinical trials
and to formulate and manufacture its product candidates; and
economic conditions generally. Additional information on potential
factors that could affect our results and other risks and
uncertainties are detailed from time to time in Ocata’s periodic
reports, including the Quarterly Report on Form 10-Q for the three
and nine months ended September 30, 2014. Forward-looking
statements are based on the beliefs, opinions, and expectations of
Ocata’s management at the time they are made, and Ocata does not
assume any obligation to update its forward-looking statements if
those beliefs, opinions, expectations, or other circumstances
should change. Forward-looking statements are based on the beliefs,
opinions, and expectations of Ocata’s management at the time they
are made, and Ocata does not assume any obligation to update its
forward-looking statements if those beliefs, opinions,
expectations, or other circumstances should change. There can be no
assurance that Ocata’s future clinical trials will be successful or
that the results of previous clinical studies will lead to
commercialization or products or therapies.
Investors:Westwicke PartnersJohn Woolford,
443-213-0506john.woolford@westwicke.comorPress:Russo PartnersDavid
Schull, 858-717-2310david.schull@russopartnersllc.com