SOURCE: Living Cell Technologies

February 26, 2008 21:20 ET

Living Cell Technologies and US-Based Barbara Davis Center to Collaborate on Diabetes Clinical Trial Program

MELBOURNE, AUSTRALIA and AUCKLAND, NEW ZEALAND--(Marketwire - February 26, 2008) - Living Cell Technologies Limited (ASX: LCT) (PINKSHEETS: LVCLY) today announced that the Company has signed a term sheet with the Barbara Davis Center for Childhood Diabetes (BDC) to establish a diabetes clinical trial program in Denver, Colorado.

BDC and LCT will collaboratively pursue regulatory approval and then conduct a U.S. clinical trial in Type 1 diabetes with DiabeCell®, LCT's encapsulated porcine insulin producing cells. The proposed U.S. trial is planned to commence in 2009 and will be planned utilizing the clinical protocols and results from LCT's trials in Russia and New Zealand.

Professor George Eisenbarth, Professor of Medicine and Pediatrics at the BDC said: "The lack of adverse effects and the encouraging early clinical results from LCT's first DiabeCell® trial have prompted us to do a trial in Denver."

Dr. Paul Tan, Chief Executive Officer of LCT added: "We are pleased to have the extensive clinical trial capability of experts from one of the most established diabetes centers in the U.S. to help us get DiabeCell® to people with diabetes."

BDC is the largest diabetes and endocrine care program in Colorado. The Center is managed as a distinct administrative unit of the University of Colorado Denver School of Medicine.

BDC provides unique facilities and resources for clinicians, clinical researchers and basic biomedical scientists working to help patients with Type 1 diabetes. The Center provides state-of-the-art clinical diabetes care to 80% of children in Colorado and many adults within the Rocky Mountain Region, as well as receiving national and international referrals.

About Living Cell Technologies:

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.

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