Diabecell is LCT’s treatment designed to normalise the lives of people with insulin dependent diabetes. Diabecell is implanted into patients and works by self-regulating and efficiently secreting insulin in the patient’s body. LCT’s encapsulation technology means that this procedure does not require the use of immunosuppressant drugs.
The New Zealand government awards grants to assist companies to bridge technology gaps to bring products to market more rapidly. Specific projects supported by this grant relate to upscaling the bioprocessing of cells, the commercial manufacture of alginate gel and commercial encapsulation methods. These technologies are essential in the manufacture of Diabecell and are also applicable for encapsulating other cell products in the LCT pipeline. These projects enhance LCT’s ability to license its cell encapsulation technology to other parties.
Paul Tan, CEO at LCT said: “Positive clinical data from our early Phase I/IIa trials compels us to address future market demand and further develop our manufacturing capability as part of the commercialisation programme for Diabecell. This grant contributes to the investment required to increase production of Diabecell to commercial scale and the cost of the New Zealand clinical trial currently underway with Diabecell.
“We are pleased that the commercial and scientific peers who reviewed our grant application for the New Zealand government endorsed LCT’s business and development strategy to commercialise Diabecell.”
David Brookes, chairman of LCT Board, said: “This is a very exciting time in the company’s development with the fourth patient in the New Zealand trial implanted this week. We look forward to progressing our milestones with the funds raised from our shareholders in 2009 and from this New Zealand government grant.”