irasia.com – Living Cell Technologies Limited

Limited living cell technologies

ACN: 104 028 042
ASX: LCT
OTCQX: LVCLY

Sydney, Australia & Auckland, New Zealand – October 31, 2022 – Living Cell Technologies (ASX: LCT; OTCQB: LVCLY) announces the resignation of Professor Bernie Tuch, Mr. Robert Willcocks and Dr. Andrew Kelly as directors of the company and the appointment of Mr. David Hainsworth and Mr. Bradley Dilkes to Board of Directors. Professor Carolyn Sue will continue as Director.

The three outgoing directors decided to resign before the removal resolutions were submitted to the company’s annual general meeting on November 10, 2022, when it appeared that these resolutions would be adopted. It was felt that this would allow for an orderly and efficient transition to the new leadership positions.

Professor Bernie Tuch will continue as interim CEO until the end of January 2023.

Contact within the company:
Mr Bradley Dilkes
[email protected]

Cleared for publication by the Board of Directors of Living Cell Technologies Limited.

For more information: www.lctglobal.com

About NTCELL
NTCELL is an alginate-coated capsule containing clusters of neonatal porcine choroid plexus cells from a unique herd of designated pathogen-free pigs bred from stock originally discovered in the remote subantarctic islands from Auckland. Choroid plexus cells are natural ‘support’ cells for the brain and secrete cerebrospinal fluid (CSF), which contains a range of factors that support nerve cell function and protective enzymes that are essential for growth nervous and functioning. In NTCELL, porcine choroid plexus cells are coated with alginate to protect them from attacks by the immune system. Therefore, no immunosuppressive therapy should be administered to recipients.

About Living Cell Technologies
Living Cell Technologies Limited (ASX: LCT) is an Australasian biotechnology company focused on the discovery and development of new treatments for debilitating diseases such as diabetes and Parkinson’s disease.

LCT is listed on the Australian (ASX:LCT) and US (OTCQB:LVCLY) stock exchanges. The Company is incorporated in Australia and its operations are based in Australia and New Zealand.

For more information, visit www.lctglobal.com or follow @lctglobal on Twitter, Facebook or LinkedIn.

Forward-looking statements

This document may contain certain forward-looking statements, with respect to LCT’s business, which can be identified by the use of forward-looking terminology such as “promising”, “probable”, “plans”, “anticipated”, “will”, “will”. project”, “believe”, “plan”, “expect”, “estimate”, “target”, “aim”, “set”, “potential”, “seek”, “goal”, “could provide”, “intends”, “is under development”, “could be”, “in progress”, or similar expressions, or by express or implied discussions of potential filings or marketing approvals , or potential future sales of product candidates. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. There can be no assurance that existing or future regulatory filings will satisfy the requirements of the FDA and other health authorities with respect to one or more product candidates, nor can there be any assurance that such product candidates will be approved by health authorities for sale in any any market or that they will reach a particular level of sales. In particular, management’s expectations regarding the approval and commercialization of 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; pricing pressures from government, industry and the general public; and additional factors that involve significant risks and uncertainties regarding 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 differ materially from those described herein as anticipated, believed, estimated or expected. LCT provides this information and assumes no obligation to update any forward-looking statements contained herein as a result of new information, future events or developments or otherwise.

Source: Living Cell Technologies Limited