SOURCE: Living Cell Technologies

October 22, 2007 10:30 ET

Living Cell Technologies to Present at Rodman & Renshaw 9th Annual Healthcare Conference

MELBOURNE, AUSTRALIA and AUCKLAND, NEW ZEALAND--(Marketwire - October 22, 2007) - Living Cell Technologies Limited (ASX: LCT) (PINKSHEETS: LVCLY), a life sciences company developing live cell-based therapy products to treat life-threatening human diseases, today announced that the Company is scheduled to present at the Rodman & Renshaw 9th Annual Global Healthcare Conference, on November 5-7, in New York City.

Dr. Paul Tan, Living Cell Technologies Chief Executive Officer, will give a presentation on November 7, at 2:00 p.m. EST on the Company's lead product for treatment of Type 1 diabetes, DiabeCell®, which is currently in a Phase I/IIa clinical trial. The presentation will be followed by a question and answer session and a live webcast may be accessed at the Company's website, www.lctglobal.com or at http://wsw.com/webcast/rrshq12/lct.au.

A replay of the presentation will be archived for 90 days after the conference, at the same locations. For more information about the Rodman & Renshaw 9th Annual Healthcare Conference, please visit Rodman & Renshaw's website at www.rodmanandrenshaw.com.

Living Cell management will be available for meetings in New York on November 5-7.

LCT's DiabeCell® is a porcine islet cell implant that secretes insulin in response to the patient's blood glucose levels. People with Type 1 diabetes are not able to produce their own insulin because their pancreatic cells are not functioning properly. DiabeCell® has been developed, using proprietary micro-encapsulation technology, to enable implantation without rejection or the need for immunosuppressant drugs, and to achieve near-normal blood glucose levels without administration of insulin or with significantly reduced levels of insulin.

The first of two DiabeCell® Phase I/IIa clinical trials began earlier this year at the Sklifosovsky Clinical and Research Institute in Moscow. The 12-month trial is being conducted in six Type 1 (insulin-dependent) diabetics, who are being given the lowest clinically effective dose to demonstrate safety, with dosing to be repeated for additional clinical benefit. The patients receive an initial implant dose equivalent to 5,000 islet equivalents (IEQs) administered by injection into the peritoneal cavity, followed by a second implant six months later. Follow up monitoring continues for 12 months.

The first patient was injected with his first dose in June 2007, without adverse effects. Control of blood glucose levels has been maintained, while his daily insulin requirement was gradually reduced by about 40% over the past four months.

The second recipient was implanted with her first dose of DiabeCell® in September 2007, without adverse effects and control of blood glucose has been maintained with progressive reduction of daily insulin requirements. At one month following the implant, this patient has been weaned off insulin altogether.

LCT intends to conduct a second DiabeCell® Phase I/IIa clinical trial of 12 months duration in New Zealand with a patient group composed of eight long-standing type 1 diabetics. Patients will receive higher doses of DiabeCell® than in the trial currently underway. It is anticipated that this trial will start in late 2007 and will then be followed by a larger pivotal trial.

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 22, 2007 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.

Contact Information

  • Contacts:

    Richard Justice
    Chief Financial Officer
    Tel: +64-9-276-2690 (x. 739)
    Mobile: +64-21-223-4741

    Dr. Paul Tan
    Chief Executive Officer
    Tel: +64-9-270-7941
    Mobile: +61-402-716-984

    Rachel Levine
    Investor and Media Relations
    Tel: +646-284-9439
    Email: rlevine@hfgcg.com