LCT Prepares to List on International OTCQX
Living Cell Technologies Prepares to List on the International OTCQX
May 8, 2008 – Melbourne, Australia and Auckland, New Zealand - Living Cell Technologies Limited (ASX:LCT; OTC: LVCLY.PK) today announced it has applied to list its American Depository Receipt (ADR) program on the International OTCQX to increase the Company’s exposure to U.S. investors.
Living Cell Technologies’ Chief Financial Officer Mr Richard Justice said, ‘Listing on the OTCQX will help to raise LCT’s profile amongst U.S investors with the expectation to increase the volume of trading of the Company’s ADR’s. This listing, combined with substantial recent U.S. investment signifies the progression of the Company as an international operation.’
The International OTCQX provides non-USA publicly listed companies with a gateway to the U.S. securities markets including a vehicle to trade shares in the U.S. with accompanying ongoing disclosure to U.S investors. Such non-USA companies must have substantial operating businesses and provide credible disclosure to be eligible for inclusion in the premium-tier International OTCQX. Successful listing distinguishes reputable international issuers from the approximately 8,000 over the counter (OTC) securities traded in the U.S.
Companies with shares listed on OTCQX include: Adidas AG, Air France, BASF SE, ICI, Roche Holding Ltd, Starpharma Holdings Ltd and Wal-Mart De Mexico.
ENDS
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
developing”,“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 May 8 ,
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.