Advanced Cell Tech. nets intellectual assets
Advanced Cell Technology announced it has acquired the intellectual property assets of a former competitor, including 26 issued patents and numerous pending patent applications for a combination of cash and shares of common stock.
ACTC, which has operations in Worcester, acquired the assets of Infigen Inc. The deal provides ACTC with applications related to somatic nuclear transfer, parthenogenesis, and other related technologies.
The transaction is expected to strengthen ACTC's intellectual property position in their drive towards the commercialization of embryonic stem cell and SCNT technology.
"This tactical acquisition is a part of our long-term plan to become one of the leading companies in the field of regenerative medicine," said William Caldwell, CEO of ACTC. "We intend to use these technologies to further our product development and use the exclusive rights under these patents to protect the company and, as appropriate, leverage these patents through licensing transactions with potential strategic partners."
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