A Medical Device Daily

Advanced Cell Technology (ACT; Alameda, California) reported that it completed a private placement with institutional and other accredited investors, resulting in gross proceeds of $10 million.

The company said it intends to use the proceeds of the offering towards the further development of the company's clinical programs, for general corporate purposes, including additions to working capital, and to finance certain costs related to its recently disclosed plan to acquire Mytogen (Charlestown, Massachusetts) for $5 million in stock (Medical Device Daily, June 1, 2007).

On Aug. 31, ACT closed on the private placement of $12.55 million principal amount of amortizing senior secured convertible debentures. The issuance of the debentures generated $10 million in gross proceeds.

"The proceeds from this financing will allow ACT to accelerate its development programs focused on novel therapies for diseases and indications that have few medical alternatives," said William Caldwell, IV, CEO/chairman of Advanced Cell Technology. "Cardiovascular disease and regenerative retinal disorders represent substantial unmet medical needs that we believe our cell based therapies address," he added.

GE Healthcare Financial Services (Chicago) has provided a $207 million first mortgage for the Atria Senior Living Group (Louisville, Kentucky)

Atria - the eighth largest provider of retirement and assisted-living services in the U.S. - owns and operates 124 communities in 27 states.

The financing plan includes both a 10-year fixed rate and a five-year floating rate pools. The floating rate pool also allows Atria to make $32 million in capital improvements to the properties in that pool.

GE Healthcare Financial Services is a provider of capital, financial solutions, and related services for the global healthcare market.