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Living Cell Technologies Expands Management Team

Living Cell Technologies Expands its Management Team and Appoints Dr Robert Caspari as CEO


July 29, 2008, Melbourne, Australia; Auckland, New Zealand; and Boulder, Colorado, U.S.A. Living Cell Technologies Limited (ASX: LCT; OTCQX: LVCLY) today announced the expansion of its management team and the appointment of one of its directors, Dr. Robert Caspari, M.D., as Chief Executive Officer of the Company.

Dr. Caspari was previously Senior Vice President Commercial Operations of Myogen, Inc.; Vice President and General Manager for Biopharmaceuticals at Novo Nordisk Pharmaceuticals, Inc.; Vice President Medical and Clinical Affairs of Baxter International; Senior Vice President Medical & Regulatory Affairs of Somatogen, Inc.; Vice President, Medical Affairs, Boehringer Mannheim Corporation; Senior Director of International Clinical Research at Schering-Plough Corporation; Director, Global New Product Management at Lederle Laboratories and more recently President and CEO of Aurogen, Inc.

Dr. Caspari is based in Boulder, Colorado and will lead LCT from there in recognition of the growing U.S. presence of the company. LCT recently listed its American Depository Receipts on the International OTCQX with the Bank of New York Mellon as its Principal American Liaison. The Company has also started working with the Barbara Davis Center for Diabetes, Denver, Colorado, towards conducting a clinical trial there in 2009.

The appointment of Dr. Caspari comes as the Company elevates operations and business activities internationally. Dr. Paul Tan, LCT’s current CEO who is based in Auckland, New Zealand, will remain the CEO of LCT New Zealand Limited, LCT’s subsidiary in New Zealand, and assumes the role of Chief Operating Officer for LCT.

Dr. Paul Tan said: “Following the very positive interim results from our Phase I/IIa trial with DiabeCell® for insulin dependent type 1 diabetes, LCT is expanding its facilities and operations in New Zealand to meet the demand for DiabeCell® in clinical trials for 2009 onwards. I have enjoyed working with Dr. Caspari on the Board of LCT and look forward to accessing his experience on the management team to advance DiabeCell® to the market.”

Dr. Caspari added: "Since becoming a Board member of LCT earlier this year, I have been extremely impressed by the stellar job Dr. Paul Tan and founders Professor Bob Elliott and David Collinson have done to establish DiabeCell® as a potential breakthrough therapy for Type 1 diabetes. The entire LCT team, as well as the Board, is passionate about developing a therapeutic option that will change the lives of so many people. It is a privilege to be asked to lead the company as it prepares to bring DiabeCell® to market.”

“My expertise in drug development, clinical research and regulatory process in the U.S. and Europe is well suited for LCT’s current projects. As we move towards commercialization I will also be bringing experience in launching and marketing new products to the team. My primary task will be to work with management to expand operations in New Zealand, and to enhance the investor base and presence of LCT in the U.S. and other major markets. I look forward to working with Paul, Bob, Dave and the rest of the LCT team as we strive to improve the well being of millions of people with diabetes.”


ENDS

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