April 12, 2011 ― Otsuka Pharmaceutical Factory, Inc. (head office: Naruto City, Tokushima, Japan; President: Ichiro Otsuka) (“OPF”) entered into a share subscription agreement on April 12, 2011 with Living Cell Technologies Limited (head office: Auckland, New Zealand, Managing Director & CEO：Ross Macdonald) (“LCT”) with respect to subscription for LCT’s new shares.Under the agreement, OPF will invest AUD3 million in LCT for 25 million ordinary shares (A$0.12 per share). This investment will result in OPF holding 8.2% of LCT’s outstanding shares.
In addition to subscription for LCT’s new shares, OPF has earned an exclusive right to negotiate with LCT for research and development toward commercialization of LCT’s pancreatic islet “DIABECELL” and exclusive license and distribution right in Japan and other Asian countries (except for China).
It is OPF’s objective, through obtaining the rights for development and commercialization of this pancreatic islet DIABECELL, to offer additional therapeutic options for patients with diabetes, and to strengthen its R&D in the field of regenerative medicine and further actively expand its business not only in Japan but also on the international stage... [PDF] Otsuka Pharmaceutical Factory's Press Release - [PDF] Living Cell Technologies' Press Release -
