Sydney - Wednesday - November 2: (RWE Aust Business News) - Living Cell Technologies (LCT) has settled the transactions relating to the 50/50 joint venture company Diatranz Otsuka with Otsuka Pharmaceutical Factory.
Otsuka has paid $25 million while LCT has transferred the assets associated with DIABECELL, which have been valued at $25 million.
These assets include patents, trademarks, manufacturing and R&D facilities as well as the special herd of biocertified designated pathogen-free pigs.
LCT has also granted a royalty free licence to Diatranz to use its encapsulation technology to treat diabetes.
LCT has a 50 per cent shareholding in Diatranz and will supply testing, R&D, management and administrative services to the joint venture at market rates based on its requirements to further develop and commercialise DIABECELL.
Diatranz has agreed to provide services to enable LCT to continue developing NTCELL, IMMUPEL and its other products.
Further it has agreed to ensure that the supply of pig cells to LCT continues.
