February 28, 2007
Advanced Cell applauds California court ruling
By Christina Davis
Advanced Cell Technology Inc., which has operations in Worcester, put out a statement this morning applauding a California appeals court decision upholding the constitutionality of the state's $3 billion stem cell research program, known as Proposition 71.
William M. Caldwell IV, chairman and CEO of Advanced Cell, said in a written statement, "California's Proposition 71 may be the world's largest single backer of research in stem cells. We believe a capital infusion could dramatically benefit the stem cell industry…"
If the California Supreme Court declines to hear an appeal, the state of California could begin issuing bonds for the program as soon as 120 days from now.
In addition to its operations in Worcester, Advanced Cell also has its corporate headquarters in Alameda, Calif.
William M. Caldwell IV, chairman and CEO of Advanced Cell, said in a written statement, "California's Proposition 71 may be the world's largest single backer of research in stem cells. We believe a capital infusion could dramatically benefit the stem cell industry…"
If the California Supreme Court declines to hear an appeal, the state of California could begin issuing bonds for the program as soon as 120 days from now.
In addition to its operations in Worcester, Advanced Cell also has its corporate headquarters in Alameda, Calif.
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