Regenerative medicine company Advanced Cell Technology (OTCBB:ACTC) reached another important milestone Thursday as health authorities in the UK gave the go-ahead for trials to treat patients with the degenerative eye disease, Stargardt's Macular Dystrophy, using stem cell technology, the first time such studies have been approved in Europe.

Shares in Advanced Cell Technology powered ahead again today after the company confirmed that the FDA had cleared the company`s application to initiate a trial to treat Dry Age-Related Macular Degeneration

Advanced Cell Technology (OTCBB: ACTC), a company that works in the field of regenerative medicine, announced Thursday that it has filed for orphan drug designation with the European regulatory authorities for its treatment for Stargardt's, a degenerative eye disease.

The clinical trial would be the first to use human embryonic stem cells to treat dry age-related macular degeneration (AMD), which reportedly afflicts more than 30 million people around the world, including an estimated 13-15 million Americans.

The move to allow the phase I/II clinical trial will make the company the second in the US to test a human stem cell type of treatment. The study will use retinal cells, which will be derived from human stem cells, to transplant in 12 patients with advanced Stargardt's.

U.S. equity markets moved higher Tuesday afternoon as investors welcomed a report showing existing home sales surged in April for the first time since January.

U.S. equity markets looked set to open lower Tuesday after Fitch Ratings cut Japan’s credit rating, citing rising public debt and slow deficit-reduction efforts.

Global gold demand in the first quarter of 2012 was 1,097.6 tonnes, down 5 percent from the high demand levels seen a year earlier, according to the World Gold Council.

Biopharmaceutical company Medgenics (LON:MEDG, AMEX:MDGN) achieved a major milestone today - with clearance to begin a phase IIb trial of EPODURE to treat anaemia in kidney failure patients.

Social network site Facebook Wednesday increased the size of its initial public offering by almost 25 per cent as it could raise as much as $16 billion on strong investor demand for its market debut.