Otsuka Pharmaceutical Factory, Inc becomes 100% shareholder of Diatranz Otsuka Limited

Living Cell Technologies Limited (LCT) sold its 50% shareholding in Diatranz Otsuka Limited (DOL), to the other 50% shareholder, Otsuka Pharmaceutical Factory, Inc. (OPF), for $3m, with settlement on 31 January 2018. Furthermore, LCT and DOL have agreed to sign a memorandum of understanding, upon completion of sale of the shareholding, to exclusively license LCT to use DIABECELL in Australia, Argentina and New Zealand when it is FDA approved, and to supply product on favourable terms.

OPF continues to pursue development of its encapsulated pancreatic cell product as a potential treatment for unaware diabetic hypoglycaemia in USA.