LCT’s Share Purchase Plan successful
Apr 30, 2012
OTC Disclosure News Service
Sydney, NSW, Australia –
Living Cell Technologies Limited
LCT’s Share Purchase Plan successful
1 May 2012: Sydney, Australia Auckland, New Zealand – Living Cell Technologies Limited’s (ASX: LCT; OTCQX: LVCLY) Share Purchase Plan has met expectations and raised over $1 million.
The Board was pleased with the uptake and with the interest shown by shareholders in both Australia and New Zealand.
The new capital will be used to conduct clinical trials with NTCELL for Parkinson’s disease. The money will also be used to conduct research and development on using NTCELL to treat other neurodegenerative diseases and to help meet operating expenses.
Shares will be allotted to subscribers at an issue price of $0.0605 on Thursday 3 May, 2012.
“This is a very good result in the current economic climate and we’re grateful for the continued support of shareholders,” says CEO Dr Andrea Grant. “With both the DIABECELL® product progressing well in our joint venture Diatranz Otsuka Limited and our upcoming development of NTCELL, LCT is in the exciting position of potentially offering two new treatments for two major diseases, both of which will address the shortcomings of therapies currently available.”
For further information: www.lctglobal.com
About Living Cell Technologies
LCT leads the world in cell transplant research and has implemented a business model that supports the discovery and advancement of products through preclinical and early clinical development. LCT aims to secure a major pharmaceutical partner to co-develop products through Phase II and pivotal studies, and ultimately market introduction. Value is returned to LCT principally through an ownership share of downstream product profits. LCT is incorporated in Australia. Research and development, operations and manufacturing facilities are based in New Zealand.
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 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.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.