Singapore, Feb 09, 2010: Living Cell Technologies (LCT), a cell-based therapeutic maker with operation in New Zealand and Australia, said that it has received 10 percent ownership of US-based CytoSolv in exchange of restricted supply of choroid plexus cell clusters from its designated pathogen free pig herd.

 

In addition, LCT has granted CytoSolv a non-exclusive, non-transferable license to use its broad choroid plexus patents solely for the purpose of wound healing.

CytoSolv is a newly formed biomedical company developing proprietary technology to address wound healing, initially targeting diabetic ulcers.

Commenting on the development, Dr Paul Tan, CEO of LCT said, “Although this collaboration is outside LCT's core business of live cell implants, the topical use of secreted products from porcine CP cells offers a potential revenue stream from supply of cells and investment return. The experienced team at CytoSolv has produced very promising preliminary data, and we look forward to continuing this exciting collaboration.”