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Living Cell Technologies Expands Breeding Capability with New Production Facility
October 23, 2008 – Melbourne, Australia, Auckland, New Zealand and Boulder, USA – Living Cell Technologies Limited (ASX:LCT; OTCQX:LVCLY) today announced that it will expand its breeding capabilities with the construction of a new Designated Pathogen Free (DPF) facility for the breeding of LCT’s unique pig herd.
Building consent has been granted for the facility, which will be built in Invercargill in New Zealand’s South Island, and is expected to be operational in the first quarter of 2009.
The DPF facility will allow the company to expand its pig herd under conditions that maintain their high health status free of infectious organisms. The new facility complies with U.S. Food and Drug Administration (FDA) standards and animal welfare guidelines, providing living space and opportunity for the pigs to interact socially with each other and staff. A separate maternity unit is provided for sows and piglets
LCT’s Chief Operating Officer, Dr Paul Tan said: “The new facility is integral to the Company’s future growth, given the recent approval for the initiation of a Phase I/IIa clinical trial in New Zealand and the expansion of our Russian clinical trial which commenced in mid-2007 and has yielded positive safety and efficacy data to date.”
“Porcine islet cells of uniform quality are critical to the administration of our clinical trials. We have taken great care to ensure facility compliance with animal welfare guidelines as we pursue a treatment for type 1 diabetes.”
About Living Cell Technologies: www.lctglobal.com
Living Cell is developing cell-based products to treat life threatening human diseases. The Company owns a biocertified pig herd that it uses as a source of cells for treating diabetes and neurological disorders. For patients with Type 1 diabetes, the Company transplants microencapsulated islet cells so that near-normal blood glucose levels may be achieved without the need for administration of insulin or at significantly reduced levels. The company entered clinical trials for its diabetes product in 2007. For the treatment of Huntington’s disease and other neurological disorders, the company transplants microencapsulated choroid plexus cells that deliver beneficial proteins and neurotrophic factors to the brain. Living Cell’s technology enables healthy living cells to be injected into patients to replace or repair damaged tissue without requiring the use of immunosuppressive drugs to prevent rejection. Living Cell also offers medical-grade porcine-derived products for the repair and replacement of damaged tissues, as well as for research and other purposes.
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 as of October 23, 2008, 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.
Contacts:
Dr Robert Caspari
Chief Executive Officer
Mob: +1 303-859-5718
Tel:+1 303-442-2519
rcaspari@lctglobal.com
Dr. Bob Elliott
Medical Director
Mob: +64 27 292 4177
Tel:+64 9 276 2690
relliott@lctglobal.com
Dr. Paul Tan
Chief Operating Officer
Mob: 0402 716 984 (AUS)
Mob: 021 608 784 (NZ)
Tel: +64 9 270 7941
Melody Carey
Investor and Media Relations (US)
Tel: +1 917-322-2571
mcarey@rxir.com
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