Determination-keeps-scientist-looking-for-new-treatments

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Posted by Ellen on 20:28:18 2010/06/22

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Living Cell Technologies is conducting a trial involving eight diabetics having cells from pigs transplanted into their bodies in the hope they will eventually produce insulin. After that, a further trial will take place, most likely overseas, to determine optimum dosages, with the aim of going to market in 2013. What has been the biggest obstacle in running your company? The regulatory procedures, and New Zealand is not unique in this. You'd be amazed at the mountain of paper generated to get through this xenotransplantation thing, and thousands and thousands of hours have gone into getting regulatory approval. Why did you keep going? I was not going to let the bastards grind me down. Nothing was going to stop me, nothing - and if it requires thousands of hours, then I will find those thousands of hours. Who in business do you admire? I admire Stephen Tindall [an investor in Living Cell] because he's using the money he made to support innovation. We trialled this treatment on his diabetic labrador, Sam, and he said, "You're not planning to do this on humans, are you?" and I said, "I'm not planning to just do it on dogs". He invested $3 million into the company. How do you sustain company growth? Up to now we've had investors with a personal interest in the company and we haven't had any major institutional investors, but we're getting to the stage where that sort of investment may be next. We need about $7m a year to fund this company. Describe a mistake you have learnt from? About seven years ago we set up a subsidiary in Rhode Island that cost a lot of money. We hoped we would be able to fast-track some of our development in the US but the timing was wrong and we should have waited until we had a product on the market. I was very optimistic about the time it would take us to get to market, but then if you're not optimistic, you would never get it off the ground. How long did you think it would take? I thought it would take five years - that was back in 2000. Describe your best triumph. We did a couple of experimental cell transplants that failed to show any benefit. One was a guy I had known for years and he kept telling me he thought he was still getting benefit from it. He made me a bet and insisted I go back and have a look in his belly. I peered down the laproscope and saw the pig cells were still in there. That was the moment of revelation when I knew, OK, this could work and it was only a matter of technology from there on in. Ad Feedback How much did you pay out on the bet? Ten dollars - it was money well spent. What are your business goals? I want to get the product to market and make a lot of money for our investors and for the company so we can go and do more for other diseases. We're currently involved in Parkinson's disease using another type of cell and want to see that achieved as well. We're trialling it on primates, but not humans yet. There are 1001 things in my book but it's getting a bit late now for me [I'm 76] to get them all accomplished. 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Re: Determination-keeps-scientist-looking-for-new-treatments - Al Gordon 21:51:44 2010/06/22 (0)

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