LCT is US-bound

Auckland's diabetes transplant company Living Cell Technologies [ASX: LCT] has appointed a new CEO based in the US.

The current chief, Dr Paul Tan, will remain CEO of LCT New Zealand and will also take up the role of chief operating officer for the company.

The new CEO is Dr Robert Caspari, an LCT director and former head of Aurogen. He is based in Boulder, Colorado, and will lead development of the company from there. LCT recently listed American depository receipts on the International OTCQX, a market aimed at small to medium publicly listed companies.

Caspari has held positions with several pharma companies including Novo Nordisk, Baxter, Boehringer Mannheim, and Schering-Plough.

LCT plans a clinical trial at the Barbara Davis Centre for Diabetes in Denver next year.