Living Cell Technologies sells stake in Otsuka Pharma joint venture for A$3 mln

Thu, 25 Jan 2018

By Paul McBeth Jan. 25 (BusinessDesk) - Living Cell Technologies has sold its half-share in a joint venture with Japan's Otsuka Pharmaceutical Factory for A$3 million, giving the Kiwi biotech firm enough funds to keep operating for the next two-and-a-half years. Auckland-based Living Cell's exit from the joint venture company Diatranz Otsuka settles on Jan. 31, and the former partners have agreed to sign a memorandum of understanding to exclusively license the New Zealand firm to use diabetes treatment Diabecell in Australia, Argentina a...

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