Total
0
Shares
Living Cell Technology (ASX:LCT) - Interim CEO, Bernie Tuch
Interim CEO, Bernie Tuch
Source: LCT
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Living Cell Technologies (LCT) secures funding for its third clinical trial of NTCELL in Parkinson’s disease
  • The aim of the third trial is to see if NTCELL can pause or delay the natural progression of Parkinson’s disease
  • With this funding, work has commenced to finalise arrangement for the trial
  • The first patient of the trial is expected to be implanted in 2024, with recipients of the trial monitored over three years
  • LCT is down 9.09 per cent and trading at one cent per share at 11:58 am AEDT

Living Cell Technologies (LCT) has secured funding, allowing the company to immediately commence plans for its third clinical trial of NTCELL in Parkinson’s disease.

The aim of the third trial is to see if NTCELL provides neuroprotection to pause or delay the natural progression of Parkinson’s disease.

LCT now has funding in place to fully execute the trial. With this funding, work has commenced to finalise arrangement for the trial.

The first patient of the trial is expected to be implanted in 2024, with recipients of the trial monitored over three years, taking place in Sydney.

Previous clinical trials showed the safety and some efficacy of NTCELL in patients with mid- and late stage Parkinson’s disease. Regulators have told the company that a further trial with a larger group of patients would be needed to secure registration of NTCELL as a treatment for Parkinson’s disease.

Over the weekend LCT, through 180 Markets, completed a $3.5 million placement to sophisticated investors.

The placement saw 142.2 million shares issued and 269.4 million converting notes to be turned into shares, following shareholder approval, for $0.0085.

LCT was down 9.09 per cent and trading at one cent per share at 11:58 am AEDT.


LCT by the numbers
More From The Market Herald
Artrya (ASX:AYA) - MD John Barrington (left) and Executive Director John Konstantopoulos (right)

" Cardiac imaging software company Artrya (ASX:AYA) up on public debut

Artrya (AYA), an artificial intelligence medical technology business, has started trading on the ASX after the successful completion of its initial public offering
Palla Pharma (ASX:PAL) -

" Palla Pharma (ASX:PAL) enters sale and leaseback of Coolaroo site

Palla Pharma (PAL) has entered into a sale and leaseback agreement of its $33.1 million manufacturing site in Melbourne.
Hexima (ASX:HXL) - CEO & Managing Director, Michael Aldridge

" Hexima (ASX:HXL) completes $1m SPP

Biotechnology company Hexima (HXL) has successfully completed its share purchase plan (SPP) and raised $1 million.

" Paragon Care (ASX:PGC) enters partnership with Centuria Healthcare for a healthcare facility

Paragon Care (PGC) has entered into a partnership with Centuria Healthcare for the 15-year lease of a state-of-the-art healthcare facility in Melbourne.