Living Cell Technologies Limited

Living Cell Technologies Limited
Company Announcement

LCT appoints Chief Executive

28 December 2011 - Sydney, Australia & Auckland, New Zealand - Living Cell Technologies Limited (ASX: LCT; OTCQX: LVCLY) has appointed Dr Andrea Grant as Chief Executive Officer.

Dr Grant joins LCT from Roche Products New Zealand Ltd, where as Public Policy and Communications Manager she was responsible for government and corporate relations. Before immigrating to New Zealand from the UK, Dr Grant served as Business Development Director and then Managing Director at biotechnology company Galapagos NV, where she was responsible for securing research and licensing partnerships with global pharmaceutical partners.

LCT Chairman, Roy Austin states "I am delighted to announce Andrea Grant as our new CEO. With a PhD in molecular neurobiology from the University of Cambridge and over 15 years' experience in medical research, business management and pharmaceutical sales in Europe, the US and New Zealand, Dr Grant is an experienced senior executive who comes highly recommended by her peers. The Board and I are looking forward to working with her on the next phase of LCT's growth," says Mr Austin.

"LCT is a world leader in the research and development of cell therapies to treat chronic diseases," says Dr Grant. "Having progressed one product into clinical trials for the treatment of diabetes, and with further products for Parkinson's Disease and hearing loss at the pre-clinical stage, the organisation has developed a pioneering technology platform and a clear purpose that is passionately shared by a talented team. I am excited and privileged to join such a team and lead LCT into its next era of growth."

Dr Grant will take up her post on 16th January, 2012.


For further information:

At the company:Media and investor enquiries:
Roy AustinNZ and Australia:
Chairman, Living Cell TechnologiesSymbol Strategic Communications
Tel: +64 9 913 4605Patrick Sinclair
Mobile: +64 21 656 400Tel: +61 2 8079 2969
raustin@lctglobal.comMobile: +61 403 708 431

LCT Disclaimer
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.

Source: Living Cell Technologies Limited
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