Advanced Cell Technology Appoints Paul K. Wotton, Ph.D, President and Chief Executive Officer
June 24 2014 - 9:10AM
Business Wire
Industry Veteran to Lead Company’s Growth and
Clinical Expansion
Advanced Cell Technology, Inc. (“ACT”)(OTCBB:ACTC), a leader in
the field of regenerative medicine, today announced the appointment
of Paul Wotton, Ph.D., to the position of President and Chief
Executive Officer. Dr. Wotton is a highly regarded veteran of the
biopharmaceutical industry and has a track record of leading
companies to clinical, financial and commercial success. Dr. Wotton
joins ACT from Antares Pharma Inc. (NASDAQ:ATRS), where he served
as President and CEO since October, 2008.
“We are very pleased to attract an executive of Paul’s caliber.
His experience in leading Antares from a biopharmaceutical company
in early-stage clinical development to a commercial enterprise
approaching profitability should prove invaluable as ACT moves its
scientific platform through the clinic and focuses on commercial
and partnership opportunities,” said Michael Heffernan, Chairman of
the Board of Directors of ACT. “With the vast majority of the
legacy issues now behind the company, Paul is joining at an
exciting time as we move our RPE program for the treatment of
SMD/AMD into Phase 2 development. I would also like to thank the
management team, led by Interim President Ted Myles, for their
excellent leadership through this transition period.”
Prior to joining Antares, Dr. Wotton was the CEO of Topigen
Pharmaceuticals and prior to Topigen, he was the Global Head of
Business Development of SkyePharma PLC. Earlier in his career he
held senior level positions at Eurand International BV, Penwest
Pharmaceuticals, Abbott Laboratories and Merck, Sharp and Dohme.
Dr. Wotton received his Ph.D. in pharmaceutical sciences from the
University of Nottingham. Dr. Wotton is also past Chairman of the
Emerging Companies Advisory Board of BIOTEC Canada.
“I am delighted to join ACT at this pivotal time in its growth.
The company is now ready to pursue its Phase II clinical trials for
AMD and SMD, Phase I for MMD and to advance the novel programs in
its pre-clinical pipeline,” commented Dr. Wotton. “Cell based
therapies are an exciting opportunity and ACT is at the forefront
of these developments. I believe we have an incredible opportunity
to bring these novel therapies to patients in need and I am very
pleased to be part of this initiative.”
About Advanced Cell Technology, Inc.
Advanced Cell Technology, Inc., (ACT) is a Marlborough,
Mass.-based biotechnology company focused on the development and
commercialization of human embryonic stem cell (hESC) and adult
stem cell technology. The company’s most advanced products are in
clinical trials for the treatment of dry age-related macular
degeneration, Stargardt’s macular degeneration and myopic macular
degeneration. ACT’s preclinical programs involve cell therapies for
the treatment of other ocular disorders and for diseases outside
the field of ophthalmology, including autoimmune, inflammatory and
wound healing-related disorders. The company’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.advancedcell.com.
Forward-Looking Statements
Statements in this news release regarding future financial and
operating results, future growth in research and development
programs, potential applications of our technology, opportunities
for the Company and any other statements about the future
expectations, beliefs, goals, plans, 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: limited operating history,
need for future capital, risks inherent in the development and
commercialization of potential products, protection of our
intellectual property, 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 the Company’s periodic reports, including our report on
Form 10-K for the year ended December 31, 2013 and our report on
Form 10-Q for the three months ended March 31, 2014.
Forward-looking statements are based on the beliefs, opinions, and
expectations of the Company’s management at the time they are made,
and the Company 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
the Company’s management at the time they are made, and the Company
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 the
Company’s clinical trials or other development programs will be
successful.
Investors:CEOcast, Inc.Bob Woods, 212-732-4300orPress:Russo
PartnersDavid Schull, 858-717-2310