Press Release – New Zealand Government

The Government is investing over $4 million in ground-breaking Type 1 diabetes research, Minister of Research, Science and Technology Wayne Mapp announced today. Govt Invests $4m In Type 1 Diabetes Research

The Government is investing over $4 million in ground-breaking Type 1 diabetes research, Minister of Research, Science and Technology Wayne Mapp announced today.

The Foundation for Research, Science and Technology has invested $4.04 million in New Zealand-based cell implant company Living Cell Technologies New Zealand Ltd (LCT). The money will be matched by LCT’s investment funds.

“Science that directly boosts economic growth through effective market-driven research is a key element of the Government’s agenda for this year and into the future. This funding specifically demonstrates the Government’s strong commitment to the biomedical technology sector and the high-tech therapeutics industry,” Dr Mapp said.

“LCT is on the brink of a real breakthrough in the treatment of Type 1 diabetes. New Zealand is leading the way in this area. The technology has the potential to reduce the suffering of people with Type 1 diabetes. It is estimated that this disease affects over 10 million people worldwide,” he said.

The investment will support the commercial-scale production and New Zealand-based clinical trial of Diabecell, a treatment using encapsulated live cells to normalise the blood glucose levels in Type 1 diabetes patients.

“LCT is aiming for a world first. Diabecell will be a high-value exportable product that has the potential to open up a new industry in New Zealand,” the Minister said.

ENDS

Content Sourced from scoop.co.nz
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