Living Cell Technologies (ASX:LCT) secures funding for third Parkinson trial

• 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.