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Living Cell Technologies Ltd. Awarded NZBIO Company of the Year


3/20/2013 10:42:57 AM

20 March 2013: Sydney, Australia & Auckland, New Zealand – Living Cell Technologies Limited (ASX: LCT; OTCQX: LVCLY) has been awarded the 2013 Janssen Industry Excellence Award for Company of the Year announced at the NZBIO Annual Conference gala dinner last night.

A panel of six identified Living Cell Technologies as the winner in recognition of the company’s innovative research, pipeline development and portfolio as well as business development success in partnering with the pharmaceutical and venture capital industries.

Living C ell Technologies’ Managing Director, Dr Andrea Grant, is delighted with the award.

“For Living Cell Technologies to be commended by industry peers as an outstanding company in New Zealand’s bio-economy is a great honour,” says Dr Grant. “It’s a wonderful validation for the team and for the progress we’ve made in the last few years as we move closer to the commercialisation of our lead therapeutic DIABECELL.”

The awards were judged on a range of criteria including company development; product pipeline; international partnerships; intellectual property; strategic vision, industry leadership and entrepreneurial culture; and investment, collaborations and partnerships.

“The New Zealand biotechnology sector is world class,” says Roy Austin, Chairman Living Cell Technologies. “The board and I are extremely pleased that Living Cell Technology’s leadership in this sector has been recognised with this award.” NZBIO is a member-based organisation focused on growing New Zealand’s prosperous bio-economy. With hundreds of individual and corporate members across agbiotech, human health, industrial and environmental and food bioscience, NZBIO plays a leading role in providing practical support for companies to grow.

Its annual conference, NZBIO, is the leading showcase for the industry, attracting senior executives and delegates from around the world covering food bioscience to industrial, agricultural and health bioscience.

At the company:

Dr Andrea Grant

Managing Director

Tel: +64 9 270 7941

Mobile: +64 21 078 5421

agrant@lctglobal.com

John Cowan

Head of Finance & Administration

Tel: +64 9 276 2690

Mobile: +64 21 469000

jcowan@lctglobal.com

Media enquiries:

Rachael Joel

Botica Butler Raudon Partners

Tel: +64 9 303 3862

Mobile: +64 21 403 504

rachaelj@botica.co.nz

About Living Cell Technologies

Living Cell Technologies (LCT) is a pioneer and recognised world leader in cell transplant therapeutics. It aims to improve the wellbeing of people with serious diseases by discovering, developing and commercialising breakthrough treatments that use the regenerative healing properties of naturally occurring cells.

In 2011, LCT formed a partnership with Otsuka Pharmaceutical Factory Inc (OPF) establishing the joint venture Diatranz Otsuka Limited (NZ). LCT transferred its most advanced therapeutic candidate DIABECELL® into the joint venture, while OPF vested $25m to fund the final phase of development of DIABECELL through to market approval.

DIABECELL is in Phase IIb clinical trials in Argentina and is indicated for the treatment of patients with type 1 diabetes, especially those suffering from life threatening episodes of unaware hypoglycaemia. This is when a patient’s blood glucose falls to dangerously low levels without the patient having any sign or symptom that this is happening. This can lead to sudden unconsciousness and can lead to loss of life, especially if the patient is alone and does not receive immediate assistance to restore their glucose levels.

LCT’s second therapeutic candidate is NTCELL®, a cell type taken from the brain which has a powerful ability to protect, repair and regenerate damage tissues. In pre-clinical studies NTCELL has demonstrated the ability to regenerate damaged tissue and restore function in animal models of Parkinson’s, stroke, Huntington’s and hearing loss as well as non-neurological conditions such as wound healing.

In 2012, LCT and OPF agreed to co-develop NTCELL as a treatment for Parkinson’s with OPF fully funding the Phase I trials in New Zealand.

For more information please visit www.lctglobal.com.

LCT disclaimer

This document contains certain forward-looking statements, relating to LCT’s business, which can be identified by the use of forward-looking terminology such as “promising,” “plans,” “anticipated,” “will,” “project,” “believe,” “forecast,” “expected,” “estimated,” “targeting,” “aiming,” “set to,” “potential”, “seeking to,” “goal,” “could “provide,” “intends,” “is being developed,” “could be,” “on track,” or similar expressions, or by express or implied discussions regarding potential filings or marketing approvals, or potential future sales of product candidates. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no assurance that any existing or future regulatory filings will satisfy the FDA’s and other health authorities’ requirements regarding any one or more product candidates nor can there be any assurance that such product candidates will be approved by any health authorities for sale in any market or that they will reach any particular level of sales. In particular, management’s expectations regarding the approval and commercialization of the product candidates could be affected by, among other things, unexpected clinical trial results, including additional analysis of existing clinical data, and new clinical data; unexpected regulatory actions or delays, or government regulation generally; our ability to obtain or maintain patent or other proprietary intellectual property protection; competition in general; government, industry, and general public pricing pressures; and additional factors that involve significant risks and uncertainties about our products, product candidates, financial results and business prospects. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. LCT is providing this information and does not assume any obligation to update any forward-looking statements contained in this document as a result of new information, future events or developments or otherwise.


Read at BioSpace.com

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