Living Cell Technologies finalises technology acquisition
Thursday, 19 May, 2005
Auckland-based cell therapy company Living Cell Technologies (ASX:LCT) will hold a general meeting next week to formally seal a deal under which it has acquired technology and IP worth US$90 million from with US cell-therapy company Theracyte.
In March, LCT announced it had acquired the rights and IP for a Theracyte device consisting of small, flat metal 'pillows' that can be implanted beneath the skin to deliver sustained doses of drugs, or growth factors from encapsulated cells, to treat disease.
LCT's UK-based chairman, Mr Mick Yates, will update shareholders at the meeting, to be held at 2.30pm next Wednesday at the Radisson Plaza Hotel in O'Connell Street Sydney.
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