Advanced Cell Technology, Inc. Appoints Paul Wotton To President And CEO


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OTC:BB:ACTC / OTC:BB:BCLI / OTC:BB:NVIV
06/24/2014 [ACCESSWIRE]

Advanced Cell Technology, Inc. (OTCQB: ACTC) saw its share volume soar on June 24th with 25,842,357 shares exchanging hands, double its three month daily average volume of 11,096,589 shares.

Just this morning, ACTC 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. (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."

"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."

ACTC closed the day at $.0675, 11.2% higher than its previous close of $.06.

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BrainStorm Cell Therapeutisc Enters Definitive Agreement With Investors

BrainStorm Cell Therapeutics Inc. (OTCQB: BCLI) saw its share volume explode on June 24th with 3,303,364 shares exchanging hands, nearly four times higher than its three month daily average volume of 861,205.

Earlier this month, BrainStorm Cell Therapeutics announced that it has entered into definitive agreements with a group of investors, including several healthcare-focused funds, in connection with a private placement of common stock and warrants to purchase common stock. Upon the closing of this financing, BrainStorm will receive gross proceeds of $10.5 million, resulting from the issuance and sale of 42.0 million shares of common stock at a price per share of $0.25, a 15% discount to the 30 day volume-weighted average price of $0.294. The purchasers will also receive warrants to purchase up to 42.0 million shares of common stock at an exercise price of $0.348 per share. The warrants are exercisable immediately upon closing of the private placement and have a term of three years.

BrainStorm intends to use the aggregate net proceeds of the financing primarily for working capital and general corporate purposes, including our recently launched phase 2 amyotrophic lateral sclerosis clinical trial.

BCLI closed the day at $.33, up 4.1% from its previous close of $.317.

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InVivo Therapeutics Holdings Corp. Expands Responsibilities For Three Members Of Senior Management

InVivo Therapeutics Holdings Corp. (OTCQB: NVIV) saw its share volume skyrocket on June 24th with 916,785 shares exchanging hands, more than triple its three month daily average volume of 272,448 shares.

Just today, InVivo Therapeutics Holdings announced the expansion of responsibilities for three members of its senior management team. The additional functional responsibilities, now at the senior management level, include Operations, Project Management, and Reimbursement Planning.

William D'Agostino, PE has been appointed Senior Vice President, Operations. Prior to his new responsibilities, he held the position of Vice President, Manufacturing & Engineering.  Kristin Neff has been appointed Vice President, Clinical Operations & Project Management. Previously, she held the position of Vice President, Clinical Operations.  Lisa Crockett has been appointed Vice President, Regulatory Affairs & Reimbursement Planning. Previously, she held the position of Vice President, Regulatory Affairs.

All three members of the senior management team will report to CEO, Mark Perrin. Regarding these changes, Mark stated, "Following yesterday's announcement of our new research and development strategy and the future direction of the company, it is critical to have these key functional responsibilities at the senior management level. Recognizing the valuable contributions that have been made by these three individuals, it is gratifying to have them assume such important additional responsibilities and is yet another example of the building and strengthening of our leadership team."

NVIV closed the day at $1.01.

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