June 11, 2010
Worcester Biotech Gets Stem Cell Approval
By Brandon Butler
Worcester-based Advanced Cell Technology Inc. said the National Institutes of Health has approved one of the firm's stem cell lines for federal funding.
ACT has seven additional stem cell lines under review by the NIH. Federal funding could accelerate development of ACT products.
Until the recent approval, the NIH had made a total of 67 stem cell lines eligible for research funding. ACT called the approval "a watershed moment for the company."
Five of the ACT lines being considered by the NIH are produced "without embryo destruction," the company said.
Stem cells are a potential source of replacement cells to treat a number of diseases.
For the first quarter, ACT reported a loss of $17.8 million on revenue of $205,000.
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