Advanced Cell Technology changes its name to Ocata

MARLBORO Advanced Cell Technology Inc. has changed its name to Ocata Therapeutics Inc., a move the biotechnology company said reflects its focus on treatments for eye diseases.

The company's ticker symbol also changed to OCAT.

Ocata is at least the third name for the company, which is developing medical treatments based on embryonic stem cell technology.

The business was a subsidiary of Maine poultry company Avian Farms during the 1990s, then merged with a business incorporated in Nevada to sell dolls. The merger gave the company, renamed Advanced Cell Technology, a publicly traded stock.

Ocata has no products on the market and has piled up millions of dollars in losses since its formation. Under the President and Chief Executive Paul K. Wotton, the company has been shoring up financing to support its research, settling lawsuits over securities it sold and taking millions of shares off the market through a reverse split.

Ocata is also seeking to list its shares on a major exchange. The company reported in a presentation posted last week on its website that it was in talks with the Nasdaq stock exchange.

Ocata stock closed Monday at $6.79 a share, down 23 cents on the Over-the-Counter Bulletin Board, an exchange for small companies that do not meet the listing requirements of larger exchanges.

Mr. Wotton said in a news release that the name change comes as the company is positioning itself in the field of regenerative ophthalmology.

"With that, we determined it was important to select a company name that best reflects our focus going forward," he said.

Ocata's lead product is retinal cells derived from human embryonic stem cells. The retinal cells are being tested in humans as a possible treatment for two vision-robbing eye diseases, Stargardt's macular dystrophy and age-related macular degeneration.

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Advanced Cell Technology changes its name to Ocata