Press Release – Living Cell Technologies
16 November 2012: Sydney, Australia and Auckland, New Zealand – Roy Austin, chairman of Living Cell Technologies Limited (ASX: LCT; OTCQX: LVCLY), is pleased to announce the appointment of Dr Andrea Grant to the board as Managing Director. Dr Grant joined …
Living Cell Technologies Limited
LCT CEO Dr Andrea Grant appointed Managing Director
16 November 2012: Sydney, Australia and Auckland, New Zealand – Roy Austin, chairman of Living Cell Technologies Limited (ASX: LCT; OTCQX: LVCLY), is pleased to announce the appointment of Dr Andrea Grant to the board as Managing Director.
Dr Grant joined LCT as Chief Executive on 28 December 2011. She has extensive international experience in a variety of roles in the biotechnology and pharmaceutical fields, most recently at Roche Products New Zealand Limited. She holds PhD in molecular neurobiology and a BA (Hons) in biochemistry from Cambridge University.
Under Dr Grant’s leadership LCT has achieved a number of significant milestones. These include completing pre-clinical studies of NTCELL® for Parkinson’s disease, raising AU$1m through a share purchase plan, completing implants in the Argentine Phase I/IIa DIABECELL® clinical trial, announcing the main findings of the New Zealand Phase I/IIa DIABECELL clinical trial and gaining Medsafe authorisation to conduct Phase I clinical trials of NTCELL® for Parkinson’s disease.
Mr Austin said, “We are delighted to have Andrea join the board. Since she was appointed Chief Executive ten months ago LCT has benefited from her commitment to refining LCT’s strategy, lifting its performance, and implementing her vision for taking our products to the international market. Appointing Andrea as Managing Director is a natural step towards tighter integration of our vision, leadership and execution.”
“I am pleased to be able to make a greater contribution to the company in terms of strategic direction and governance,” said Dr Grant.
This brings LCT’s number of board members to six and, as Dr Grant is an executive director, there will be no increase in board remuneration.
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