Living Cell Technologies Limited restructures its 50% owned joint venture company Diatranz Otsuka

Australian biotechnological company  Living Cell Technologies Limited announced the completion of a strategic restructure of its business. The new organisation strengthens the capability of LCT’s 50% owned joint venture company Diatranz Otsuka Limited (DOL) and enables LCT to focus on development of new clinical products from its existing technology and intellectual property portfolio. LCT will continue its research and development activities with 12 staff, responsible for the Phase I clinical trials of NTCELL®,  as a potential treatment for Parkinson’s disease as well as progressing additional projects from a pre-clinical stage into clinical trials. 55 staff 55 staff will transfer into Diatranz for further clinical development and commercialization of DIABECELL® will transfer into Diatranz Otsuka Limited (DOL). Incorporated and operating in New Zealand, DOL is the 50:50 joint-venture established in 2011 by LCT and OPF. DOL owns the rights to and is responsible for the manufacture, clinical development and commercialisation of DIABECELL, a cell therapy for the treatment of type 1 diabetes. Until now, LCT NZ has provided the staff and functions for DIABECELL development to DOL on a fee-for-service basis. DIABECELL is therapy porcine-cell implant placed in microspheres for treatment of Diabetes Mellitus 1 type. It is currently in late-stage clinical trials, having completed a successful Phase I/IIa clinical trial in Russia