LOS ANGELES--(BUSINESS WIRE)--Advanced Cell Technology, Inc. (OTCBB: ACTC) today announced that it has completed the acquisition of all of the outstanding capital stock of Mytogen, Inc. In May 2007, the company announced that it had entered into a letter of intent to acquire Mytogen, Inc. and its Myoblast Program for the treatment of heart failure. A definite merger agreement was signed on July 31, 2007 subject to certain closing conditions. ACTC issued a total of approximately 8.2 million restricted shares of common stock, valued at $5 million and assumed certain Mytogen liabilities. Mytogen shareholders also received a warrant to purchase an additional 1.5 million shares of restricted common stock at $0.75 per share subject to the achievement of certain milestones.
