Page 241«..1020..240241242243..250260..»

Category Archives: Stem Cell Therapy

BrainStorm Featured on CNBC

Posted: February 24, 2012 at 5:43 pm

NEW YORK & PETACH TIKVAH, Israel--(BUSINESS WIRE)--

BrainStorm Cell Therapeutics Inc. (OTCBB: BCLI.OB - News), a developer of innovative stem cell technologies for neurodegenerative disorders, announced that NurOwn™, its autologous stem cell therapy for amyotrophic lateral sclerosis (ALS), or Lou Gehrig's Disease, was profiled yesterday on CNBC. In the Feature Story about the impact of Iran's nuclear threat, Israeli business and scientific leaders were interviewed about Israel's thriving economy and cutting edge technologies. Among those leaders that met with CNBC were Brainstorm’s President Mr. Chaim Lebovits and Prof. Dimitrios Karussis, Principal Investigator of Brainstorm's Phase I/II clinical trial currently underway at the Hadassah Medical Center in Jerusalem.

Brainstorm recently announced positive initial results from the clinical trial, resulting in approval from Hadassah's Helsinki committee to proceed with the trial. Accordingly, additional patients have been enrolled in the study, and Brainstorm will announce additional results in the coming months.

To see the video online, follow the link at: http://video.cnbc.com/gallery/?video=3000074883

To read the Feature Story online, follow the link at: http://www.cnbc.com/id/46484576

Safe Harbor Statement
Statements in this announcement other than historical data and information constitute "forward-looking statements" and involve risks and uncertainties that could cause BrainStorm Cell Therapeutics Inc.'s actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include risks associated with BrainStorm's limited operating history, history of losses; minimal working capital, dependence on its license to Ramot's technology; ability to adequately protect the technology; dependence on key executives and on its scientific consultants; ability to obtain required regulatory approvals; and other factors detailed in BrainStorm's annual report on Form 10-K and quarterly reports on Form 10-Q available at http://www.sec.gov. The Company does not undertake any obligation to update forward-looking statements made by us.

Continued here:
BrainStorm Featured on CNBC

Posted in Cell Therapy, Stem Cell Therapy | Comments Off on BrainStorm Featured on CNBC

MediVet-America Partners With Butler Schein Animal Health to Distribute World’s Leading Animal Stem Cell Technology to …

Posted: February 22, 2012 at 7:49 pm

Global leader in animal stem cell technology is poised for significant expansion through new partnership with top U.S. companion animal health distribution company.

Las Vegas, Nevada (PRWEB) February 22, 2012

MediVet-America, the global leader in veterinary stem cell technology and regenerative medicine, has entered into a distribution partnership with Butler Schein Animal Health, a division of Henry Schein, the leading companion animal health distribution company in the U.S., to sell and distribute stem cell kits and equipment to veterinarians serving the nation’s fast-growing $50 billion pet industry.

The announcement was made today at the Western Veterinary Conference in Las Vegas by Jeremy Delk, CEO of MediVet-America.

The two companies will partner to sell and distribute MediVet-America’s advanced stem cell technology to more than 26,000 veterinary clinics nationwide. Adult animal stem cell technology uses the body’s own regenerative healing power to help treat dogs, cats, horses and other animals suffering from painful arthritis, hip dysplasia and tendon, ligament and cartilage injuries and other ailments.

The Adipose-Derived Stem Cell Procedure Kit and state of the art equipment, co-developed with Medical Australia, enable veterinarians to remove a small sample of fat, separate the stem cells, then activate and inject them into affected areas.

“We are pleased to be teaming up with Butler Schein, the largest companion animal health distribution company in the nation,” said Delk. “Their strong track record in sales and distribution will further fuel our rapid growth and bring this breakthrough technology to more leading veterinary practices across the country.”

To introduce the distribution partnership, Delk said MediVet-America has developed an exclusive program of product and service offers that will be made available only to Butler Schein customers.

Veterinary practitioners in more than 200 markets throughout 42 states now perform the drug-free procedure entirely in their own clinics more quickly, effectively and economically than earlier generation animal stem cell therapy. MediVet-America’s new treatment, developed in Australia, is available in 26 countries worldwide.

“This exciting partnership will allow even more of our colleagues unparalleled access to MediVet-America’s superior technology, providing the most affordable and efficacious stem cell therapy in the industry,” said Mike Hutchinson, D.V.M., the world’s leading animal stem cell practitioner. Dr. Hutchinson, who has spoken around the world about stem cell therapy, most recently in Tokyo, has performed more than 300 procedures over the last 18 months in his practice near Pittsburgh, PA.

Partnering with the leading animal health manufacturers in the world, Butler Schein maintains an order-fill ratio greater than 98 percent, and is positioned to bring the broadest selection of veterinary products and strategic business solutions to veterinarians, including:

    A comprehensive product offering for companion animal, equine and large animal practices including biologicals, diagnostics, nutritionals, parasiticides and pharmaceuticals

    Technology hardware and software solutions     Capital equipment, supply products and repair services     Practice design and remodeling, client marketing and financial solutions

Stem cells are basic biological cells with the ability to differentiate into specialized tissue cells and regenerate new cells to replace or repair damaged tissue. The stem cells used in veterinary medicine are not embryonic, which have attracted controversy over the years, but are taken from adipose (fat) tissue of the adult animal.

Americans spent an estimated $50.8 billion in 2011 on their companion animals, according to the American Pet Products Association, up from $28.5 billion in 2001. MediVet-America’s stem cell treatment costs about $1,800 for small animals, $2,400 for horses. Stem cells also can be frozen and banked for future use through MediVet Lab Services.

MEDIVET-AMERICA

A research and development company and global leader in veterinary stem cell technology, MediVet-America provides innovative cell applications for the therapeutic care of animals. Headquartered in Nicholasville, Kentucky, MediVet-America develops advanced cellular designed kits and services for the treatment of arthritis and degenerative joint disease. The company also offers MediVet Lab Services in multiple locations around the world that provides technical support for in-house stem cell vets, as well as regional and national Adipose stem cell processing and cryo banking services for pets at a young age or for a maintenance program, autologous conditioned serum processing, and cell counting for in-house stem cell procedures. http://www.MediVet-America.com

BUTLER SCHEIN ANIMAL HEALTH

Butler Schein Animal Health is the leading U.S. companion animal health distribution company. Headquartered in Dublin, Ohio, the company operates through 18 distribution centers and 12 telecenters. Approximately 900 Butler Schein Animal Health team members, including 300 field sales representatives and 200 telesales and customer support representatives, serve animal health customers in all 50 states. http://www.ButlerShein.com

###

Dick Roberts
Roberts Communications
(412) 535-5000
Email Information

Here is the original post:
MediVet-America Partners With Butler Schein Animal Health to Distribute World's Leading Animal Stem Cell Technology to ...

Posted in Cell Therapy, Stem Cell Therapy | Comments Off on MediVet-America Partners With Butler Schein Animal Health to Distribute World’s Leading Animal Stem Cell Technology to …

Pathfinder Presents Preliminary Data on New Regenerative Approach to Diabetes Treatment

Posted: February 21, 2012 at 2:57 pm

CAMBRIDGE, Mass., Feb. 21, 2012 (GLOBE NEWSWIRE) -- Pathfinder Cell Therapy, Inc. ("Pathfinder," or "the Company") (OTCQB:PFND.PK - News), a biotechnology company focused on the treatment of diabetes and other diseases characterized by organ-specific cell damage, today presented preliminary data highlighting the potential of the Company's unique cell-based therapy for treating diabetes at the 7th Annual New York Stem Cell Summit. Richard L. Franklin, M.D., Ph.D., Founder, CEO and President of Pathfinder, provided an overview of the Company's Pathfinder Cell ("PC") technology, and presented preclinical evidence demonstrating how treatment with PCs was able to reverse the symptoms of diabetes in two different mouse models.

Pathfinder Cells are a newly identified non-stem cell mammalian cell type that has the ability to stimulate regeneration of damaged tissue without being incorporated into the new tissue. In today's presentation, Dr. Franklin showed how recent experiments performed using a non-obese diabetic (NOD) mouse strain were supportive of earlier data that demonstrated complete reversal of diabetes in mice. The earlier results, which used a drug-induced diabetic mouse model, were published in Rejuvenation Research1. Though preliminary, the recent results are encouraging because the NOD mouse model is widely used and highly regarded as being predictive of human type-1 diabetes.

In three separate experiments using this model, 30-50% of the mice treated with PCs at the onset of diabetes returned to normal blood glucose levels. Of the mice that responded well to treatment, the effects tended to be long lasting, up to two months in some cases after just two doses. These results, which were generated by intravenous injection of PC's derived from rat pancreatic tissue, further demonstrate the remarkable ability of Pathfinder Cells to elicit their positive effect regardless of the organ, or even species, of origin.

"We are very encouraged by these preclinical results using NOD mice. This model is the gold standard for type-1 diabetes and the fact that recent experiments mirror what we've seen in previous models may be highly significant," stated Dr. Franklin. "We have many questions to answer about how PCs act in the body, but we believe, based on previous experiments, that PCs may stimulate regeneration of damaged islet cells that produce insulin. The current NOD mouse data also suggest that PCs may have an effect in modulating the auto-immune process in type 1 diabetes. We continue to conduct experiments aimed at elucidating the optimal dosing and other factors that may be responsible for producing a robust and long-lasting response, as this will be critical as we start to think about how PCs may be used in treating human diabetes."

In his presentation today, Dr. Franklin also provided further insight into the mechanism of action of PCs, based on recent animal experiments. It was observed previously that PCs produce microvesicles, which are known to play a role in intercellular communication, but through mechanisms that are poorly understood. In a recent experiment, Pathfinder was able to isolate these microvesicles from the PCs and treat animals directly with an injection containing microvesicles only. Remarkably, both PC- and microvesicle-treated mice exhibited similar reductions in blood glucose compared to controls using the same drug-induced diabetes mouse model. This suggests, not only that the microvesicles produced by PCs are central to the mechanism of action, but that the microvesicles alone appear to be sufficient to produce the full effect.

Dr. Franklin commented, "If confirmed, this finding could have a significant positive impact on the future of PC-based therapy. Due to the relatively small amount of material contained within the microvesicles, determining the specific factor(s) that are responsible for regenerating damaged tissue could be more straightforward than we first anticipated, bringing us closer to understanding the mechanism of action. There may also be a number of potential manufacturing and storage benefits to using microvesicles versus PCs that will be interesting to explore in parallel as we work to advance this innovative new therapeutic approach closer to human clinical development."

The New York Stem Cell Summit brings together cell therapy company executives, researchers, investors and physicians to explore investment opportunities in cell therapy research and innovation. More information can be found at http://www.stemcellsummit.com.

Presentation details Event: 7th Annual New York Stem Cell Summit Date: Tuesday, February 21, 2012 Place: Bridgewaters New York, 11 Fulton Street, New York, NY Time: 3:35 pm ET

About Pathfinder

Pathfinder is developing a novel cell-based therapy and has generated encouraging preclinical data in models of diabetes, renal disease, myocardial infarction, and critical limb ischemia, a severe form of peripheral vascular disease. Leveraging its internal discovery of Pathfinder Cells ("PCs") Pathfinder is pioneering a new field in regenerative medicine.

PCs are a newly identified mammalian cell type present in very low quantities in a variety of organs, including the kidney, liver, pancreas, lymph nodes, myometrium, bone marrow and blood. Early studies indicate that PCs stimulate regeneration of damaged tissues without the cells themselves being incorporated into the newly generated tissue. Based on testing to date, the cells appear to be "immune privileged," and their effects appear to be independent of the tissue source of PCs. For more information please visit: http://www.pathfindercelltherapy.com.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements. You should be aware that our actual results could differ materially from those contained in the forward-looking statements, which are based on management's current expectations and are subject to a number of risks and uncertainties, including, but not limited to, our inability to obtain additional required financing; costs and delays in the development and/or FDA approval, or the failure to obtain such approval, of our product candidates; uncertainties or differences in interpretation in clinical trial results, if any; our inability to maintain or enter into, and the risks resulting from our dependence upon, collaboration or contractual arrangements necessary for the development, manufacture, commercialization, marketing, sales and distribution of any products; competitive factors; our inability to protect our patents or proprietary rights and obtain necessary rights to third party patents and intellectual property to operate our business; our inability to operate our business without infringing the patents and proprietary rights of others; general economic conditions; the failure of any products to gain market acceptance; technological changes; and government regulation. We do not intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements.

1Karen Stevenson, Daxin Chen, Alan MacIntyre, Liane M McGlynn, Paul Montague, Rawiya Charif, Murali Subramaniam, W.D. George, Anthony P. Payne, R. Wayne Davies, Anthony Dorling, and Paul G. Shiels. Rejuvenation Research. April 2011, 14(2): 163-171. doi:10.1089/rej.2010.1099

Read the original post:
Pathfinder Presents Preliminary Data on New Regenerative Approach to Diabetes Treatment

Posted in Cell Therapy, Stem Cell Therapy | Comments Off on Pathfinder Presents Preliminary Data on New Regenerative Approach to Diabetes Treatment

Panamanian-US Scientific Research Supports Using Fat Stem Cells to Treat Rheumatoid Arthritis

Posted: February 21, 2012 at 10:07 am

A Panamanian-led, multidisciplinary research team has published the first description of non-expanded fat stem cells in the treatment of rheumatoid arthritis patients. "Autologous Stromal Vascular Fraction Therapy for Rheumatoid Arthritis: Rationale and Clinical Safety," which appears in the January publication of the International Archives of Medicine, followed 13 rheumatoid arthritis patients who were treated with their own fat-derived stem cells.

Dallas, TX (PRWEB) February 21, 2012

A Panamanian-led, multidisciplinary research team has published the first description of non-expanded fat stem cells in the treatment of rheumatoid arthritis patients. "Autologous Stromal Vascular Fraction Therapy for Rheumatoid Arthritis: Rationale and Clinical Safety," which appears in the January publication of the International Archives of Medicine, followed 13 rheumatoid arthritis patients who were treated with their own fat-derived stem cells.

Treating arthritis with fat-derived stem cells has become commonplace in veterinary medicine over the past five years with over 7,000 horses and dogs treated by publication contributor Vet-Stem, a San Diego-based company. The objective of the joint Panamanian-US study was to determine feasibility of translating Vet-Stem's successful animal results into human patients.

Observing no treatment associated adverse reactions after one year, the team concluded that its protocol should be studied further to determine efficacy in the treatment of rheumatoid arthritis. Their publication details the rationale for the use of fat derived stem cells in treatment of autoimmune conditions and is freely available at: http://www.intarchmed.com/content/pdf/1755-7682-5-5.pdf

“Key to advancement of any medical protocol is transparent disclosure of rationale, treatment procedures and outcomes to the research community in a peer-reviewed and IRB-compliant manner,” said Dr. Jorge Paz Rodriguez, Medical Director of the Stem Cell Institute and research team leader. “While we have previously published case studies on the use of fat stem cells in multiple sclerosis patients, and one rheumatoid arthritis patient, this is the first time that comprehensive follow-up has been completed for a larger cohort of patients,” he added.

An important distinction that separates this particular approach from those which are being explored by several international investigators is that the fat stem cells were not grown in a laboratory, affording a substantially higher level of safety and protocol practicality.

“This work signifies Panama's emergence into the burgeoning field of translational medicine,” commented Dr. Ruben Berrocal Timmons, the Panamanian Secretary of Science and publication co-author. “We are proud to have attracted and collaborated with internationally-renowned stem cell clinical researchers such as Dr. Michael Murphy and Dr. Keith March from the Indiana University School of Medicine Center for Vascular Biology and Medicine, Dr. Boris Minev from the University of California, San Diego Moores Cancer Center, Dr. Chien Shing Chen from Loma Linda University Behavioral Medicine Center and Dr. Bob Harman from Vet-Stem. By leveraging their vast, collective clinical experience with Panamanian scientific infrastructure and know-how, we are striving to develop effective, internationally recognized stem cell procedures that will be accepted the world over.”

The treatment procedure involves a mini-liposuction, collection of the fat's cellular component, processing to obtain a population of cells that includes stem cells, freezing the cells in preparation for quality control, and subsequent re-administration of the cells into patients.

The Panamanian-US group has previously shown that there is a specific type of T cell, called the T regulatory cell, associated with fat stem cells, which is capable of suppressing pathological immunity. Their current theory, which is described in detail in the publication: http://www.ncbi.nlm.nih.gov/pubmed/20537320, is that the T regulatory component of the fat is capable of slowing down or suppressing the “autoimmune” reaction, while the stem cell component causes formation of new tissue to replace the damaged joints.

About the Stem Cell Institute

Founded in 2006 on the principles of providing unbiased, scientifically-sound treatment options, the Stem Cell Institute has matured into the world’s leading adult stem cell therapy and research center. In close collaboration with universities and physicians world-wide, the institute’s doctors treat carefully selected patients with spinal cord injury, osteoarthritis, heart disease, multiple sclerosis, rheumatoid arthritis and other autoimmune diseases. Doctors at The Stem Cell Institute have treated over 1000 patients to-date.

For more information on stem cell therapy:

Stem Cell Institute Web Site: http://www.cellmedicine.com

Facebook: http://www.facebook.com/stemcellinstitute

Blogger: http://www.adult-stem-cell-therapy.blogspot.com

Stem Cell Institute

Via Israel & Calle 66

Pacifica Plaza Office #2A

San Francisco, Panama

Republic of Panama

Phone: +1 800 980-STEM (7836) (USA Toll-free) +1 954 636-3390 (from outside USA)

Fax: +1 866 775-3951 (USA Toll-free) +1 775 887-1194 (from outside USA)

###

Jay Lenner
jdlenner@cellmedicine.com
1-800-980-7836
Email Information

Read the original post:
Panamanian-US Scientific Research Supports Using Fat Stem Cells to Treat Rheumatoid Arthritis

Posted in Stem Cell Therapy | Comments Off on Panamanian-US Scientific Research Supports Using Fat Stem Cells to Treat Rheumatoid Arthritis

Stem cell therapy makes dog happy again – Video

Posted: February 21, 2012 at 2:06 am

15-02-2012 18:52 Jake is one of the first dogs in the area to receive same day stem cell therapy. The new treatment gives animals better treatment in a shorter timeframe. Jake suffers from arthritis and this procedure will help ease the pain.

See the article here:
Stem cell therapy makes dog happy again - Video

Posted in Stem Cell Therapy | Comments Off on Stem cell therapy makes dog happy again – Video

ACT’s Top Scientist Sells $1.5 Million in Company Stock

Posted: February 19, 2012 at 4:59 pm


The mainstream media waxed enthusiastic last month when a California hESC clinical trial reported positive results dealing with blindness.

The report was first published account of a human trial of embryonic stem cell based therapy and involved Advanced Cell Technology, which is headquartered in Santa Monica, Ca. Despite a glowing reception of the trial's results, the firm is years away from being able to market the therapy at a profit – if it ever can do so.

The firm's chief scientific officer, Robert Lanza, moved quickly, however, to capture some monetary gain from the news, which was announced in a press release Jan. 23 by ACT.

On Jan. 23 and 24, Lanza sold 7.7 million shares in ACT for $1.5 million, according to SEC documents. He sold the stock at 18 and 19 cents a share. That compares to an ACT price of about 8 cents at the end of 2011. Lanza still holds 26 million shares in the firm. The acquisition price of the stocks is unknown.

There is nothing to suggest anything untoward about Lanza's sale. But it is a reminder that creating a successful stem cell therapy is about making money. Without a profit, there will be no therapy, as Geron reminded everyone last November when it dropped its longstanding hESC trial.

The California Stem Cell Report has asked Lanza if he has any comments about the sale of the stock. We will carry his remarks verbatim when we receive them.

The Seeking Alpha web site appears to have been the first to report the sale. Here is their complete item.

"Advanced Cell Technology, Inc. (ACTC.OB): ACTC is a development-stage biotech focused on the development and commercialization of human embryonic and adult stem cell technology in the field of regenerative medicine. On Wednesday, Chief Science Officer Robert Lanza filed SEC Form 4 indicating that he sold 7.7 million shares for $1.5 million, ending with 26.0 million shares after that sale. ACTC shares have rallied strongly since the beginning of the year, up from 8.2 cents at the end of last year to currently in 14-15c range after rising above 20c just earlier this week."

Source:
http://californiastemcellreport.blogspot.com/feeds/posts/default?alt=rss

Posted in Stem Cells, Stem Cell Therapy | Comments Off on ACT’s Top Scientist Sells $1.5 Million in Company Stock

CIRM Contracting: $1.3 Million for IT, $887,282 for Legal

Posted: February 19, 2012 at 4:59 pm


The California stem cell agency this week performed its semi-annual public disclosure of its contracts with outside firms, the second largest item in its operational budget of $18.5 million.

The contracts are scheduled to run about $3.3 million this fiscal year, according to the budget approved last May. That figure is up about 18 percent from the previous year.

According to the contract information posted this week, the two largest contracting expenditures this year are for information technology work, including the ongoing struggles with the grants management system – $1.3 million – and legal help – $887,282. The figures were compiled by the California Stem Cell Report. CIRM did not provide totals.

Outside contracts are second to the cost of salaries and benefits at the agency. One reason for the size of the contracting expense is the small size of the CIRM staff, which is now about 50.

The contracting information will be presented to the CIRM directors' Governance Subcommittee next Friday. The committee is being asked to approve an increase in the contract with Kutir Corp., from $250,000 to $470,000. By the end of 2011, CIRM had already paid out $219,680 to Kutir. The firm provides software development services.

Infonetica, which provides technology advice, would also see an increase from $236,060 to $300,000, under the staff proposal.

A staff memo to the board said,

"(Kutir's) services are key as CIRM continues to progress in automating its grants management systems to meet the requirements of both new RFAs as well as ongoing reporting obligations.""

The public can participate in the Governance meeting at locations in San Francisco, Sacramento, Irvine, Los Angeles, South San Francisco and La Jolla. Specific addresses can be found on the agenda.

Source:
http://californiastemcellreport.blogspot.com/feeds/posts/default?alt=rss

Posted in Stem Cells, Stem Cell Therapy | Comments Off on CIRM Contracting: $1.3 Million for IT, $887,282 for Legal

Stem Cell Agency on Bee Article and Voter Expectations

Posted: February 19, 2012 at 4:59 pm


The California stem cell agency today said the seven-year-old "audacious vision" of voters when they created the $3 billion research effort "is still possible."

The comment was made in an item on the agency's blog by Amy Adams, the agency's communications manager.

Her entry point was an opinion piece in The Sacramento Bee on Sunday exploring some of the ins and outs of the agency. Among other things, CIRM President Alan Trounson was quoted by writer David Lesher as "optimistically" predicting successful California stem cell treatments in five years.

Adams wrote,

"Lesher makes clear that there are many challenges ahead in bringing new therapies to patients: he said of the voters who created CIRM, 'It was pretty audacious of them in 2004 to try to create another economic driver like Silicon Valley and save lives at the same time.'

"And while the vote was audacious, we agree with his conclusion that despite risks and challenges that vision is still possible." 

Source:
http://californiastemcellreport.blogspot.com/feeds/posts/default?alt=rss

Posted in Stem Cells, Stem Cell Therapy | Comments Off on Stem Cell Agency on Bee Article and Voter Expectations

Blue-Ribbon Panel Seeks Public Comment on California Stem Cell Agency

Posted: February 19, 2012 at 4:59 pm


The California public is being given a chance to weigh in with anonymous comments about what they think of the performance of the $3 billion California stem cell agency.

Their opinions are being sought by a blue-ribbon, Institute of Medicine panel. The IOM is being paid $700,000 by the agency to examine its operations.

The questions include the importance of stem cell research and CIRM's role, its openness and transparency, an assessment of its grant programs and how it should share information with the public, suggestions for improvements and more.

The online form was posted recently on the IOM web site and can be found here. The deadline for submissions is March 19.

The IOM also has survey forms for academic and non-profit CIRM grant recipients, CIRM grant recipients that are businesses(which the IOM calls "industry partners") and "leadership of CIRM-funded institutions." The deadline for those is March 19 as well.

Source:
http://californiastemcellreport.blogspot.com/feeds/posts/default?alt=rss

Posted in Stem Cells, Stem Cell Therapy | Comments Off on Blue-Ribbon Panel Seeks Public Comment on California Stem Cell Agency

ACT's Top Scientist Sells $1.5 Million in Company Stock

Posted: February 19, 2012 at 4:57 pm


The mainstream media waxed enthusiastic last month when a California hESC clinical trial reported positive results dealing with blindness.

The report was first published account of a human trial of embryonic stem cell based therapy and involved Advanced Cell Technology, which is headquartered in Santa Monica, Ca. Despite a glowing reception of the trial's results, the firm is years away from being able to market the therapy at a profit – if it ever can do so.

The firm's chief scientific officer, Robert Lanza, moved quickly, however, to capture some monetary gain from the news, which was announced in a press release Jan. 23 by ACT.

On Jan. 23 and 24, Lanza sold 7.7 million shares in ACT for $1.5 million, according to SEC documents. He sold the stock at 18 and 19 cents a share. That compares to an ACT price of about 8 cents at the end of 2011. Lanza still holds 26 million shares in the firm. The acquisition price of the stocks is unknown.

There is nothing to suggest anything untoward about Lanza's sale. But it is a reminder that creating a successful stem cell therapy is about making money. Without a profit, there will be no therapy, as Geron reminded everyone last November when it dropped its longstanding hESC trial.

The California Stem Cell Report has asked Lanza if he has any comments about the sale of the stock. We will carry his remarks verbatim when we receive them.

The Seeking Alpha web site appears to have been the first to report the sale. Here is their complete item.

"Advanced Cell Technology, Inc. (ACTC.OB): ACTC is a development-stage biotech focused on the development and commercialization of human embryonic and adult stem cell technology in the field of regenerative medicine. On Wednesday, Chief Science Officer Robert Lanza filed SEC Form 4 indicating that he sold 7.7 million shares for $1.5 million, ending with 26.0 million shares after that sale. ACTC shares have rallied strongly since the beginning of the year, up from 8.2 cents at the end of last year to currently in 14-15c range after rising above 20c just earlier this week."

Source:
http://californiastemcellreport.blogspot.com/feeds/posts/default?alt=rss

Posted in Stem Cells, Stem Cell Therapy | Comments Off on ACT's Top Scientist Sells $1.5 Million in Company Stock

Page 241«..1020..240241242243..250260..»