Deborah Sterescu - ProactiveInvestors.com
Wednesday, 23 March 2011 16:54
Advanced Cell Technology (OTCBB:ACTC) said Wednesday that it will be issued a Chinese intellectual property patent, covering the manufacturing of retinal cells from human embryonic stem cells.
The application for the Chinese patent provides broad coverage of the manufacturing of retinal pigment epithelial (RPE) cells, as well as methods for producing purified preparations of RPE cells from human embryonic stem cells, and the use of those cells in various compositions.
"The fact that we are being awarded a set of broad claims in China, following the issuance of the three far-reaching RPE patents in the U.S. last year, gives us greater confidence that we are in a position to create a dominant patent position around our stem cell-derived RPE program in leading markets around the world," said interim chairman and CEO Gary Rabin.
The company's stem cell-derived RPE program is being tested to replace those retinal cells in patients with degenerative eye diseases, such as Stargardt's, a juvenile eye condition. At the end of last year, the company received clearance from the US FDA to begin trials for Stargardt's, as well as Dry Age-Related Macular Degeneration.
The clinical program has already showed that these new eye cells can repair the visual function in animals models.
"This IP issuance is a particularly valuable step forward for us in Asia, as it could facilitate partnering and licensing arrangements," added Mr. Rabin.
"This patent allowance is an indicator of what we hope to achieve in the IP realm in Europe and elsewhere."
Advanced Cell Technology's shares rallied 3.8% on Wednesday to $0.165 as of 10:43am EST.
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