ACN: 104 028 042
ASX: LCT
OTCQX: LVCLY
Highlights
Sydney, Australia & Auckland, New Zealand - 31 May 2022 -Living Cell Technologies (ASX:LCT) has completed a strategic placement to professional and sophisticated investors of Alignment Capital, a boutique corporate advisory firm with a track record of investing in successful emerging biotechnology companies.
The placement comprised the issue of 257,000,000 new fully paid ordinary shares in the company at an issue price of $0.005 per New Share, raising A$1.285 million.
The funding will support LCT's groundbreaking research to combat Parkinson's disease, with the company currently advancing a third clinical trial of NTCELL, aided by artificial intelligence technology (refer ASX release 23 May 2022).
LCT Executive Chairman, Professor Bernie Tuch said the funding would provide essential capital together with support from experienced biotech investors.
"We are delighted to commence a relationship with Alignment Capital and look forward to its future development," he said.
"Alignment Capital has a track record of successful biotech investments and their support will be highly beneficial as we progress towards human trials of NTCELL."
The fund-raising follows LCT's move to apply the benefits of AI to its third clinical trial of NTCELL in Parkinson's disease, under an agreement with Sydney-based start-up OptiCellAI Pty Ltd.
In March, LCT signed a Research Agreement with the University of Technology Sydney to enable the production of NTCELL in Australia for the first time.
Placement Terms
LCT has received binding commitments from professional and sophisticated clients of Alignment Capital Pty Ltd to raise A$1.285 million via a placement of 257,000,000 new fully paid ordinary shares in the company (New Shares) at an issue price of A$0.005 per New Share.
The issue has been conducted by LCT utilising its 7.1 and 7.1A capacity.
Alignment Capital will be paid a cash fee of 6 per cent on the total amount raised.
Authorised for release by the Board of Living Cell Technologies Limited.
For further information: www.lctglobal.com
| At the Company: Bernie Tuch Chief Executive Mobile: +61 411 461 604 bernieTuch@lctglobal.com | For media/investor queries: Anthony Fensom Republic PR Mobile: +61 407 112 623 anothony@republic.com.au |
About NTCELL
NTCELL is an alginate coated capsule containing clusters of neonatal porcine choroid plexus cells that are sourced from a unique herd of designated pathogen-free pigs bred from stock originally discovered in the remote sub-Antarctic Auckland Islands. Choroid plexus cells are naturally occurring 'support' cells for the brain and secrete cerebrospinal fluid (CSF), which contains a range of factors that support nerve cell functions and protective enzymes that are crucial for nerve growth and healthy functioning. In NTCELL, the porcine choroid plexus cells are coated with alginate to protect them from attack by the immune system. Therefore, no immunosuppressive regimen needs to be administered to recipients.
About Living Cell Technologies
Living Cell Technologies Limited (ASX: LCT) is an Australasian biotechnology company that is focused on discovering and developing novel treatments for debilitating conditions such as diabetes and Parkinson's disease.
LCT is listed on the Australian (ASX: LCT) and US (OTCQB: LVCLY) stock exchanges. The company is incorporated in Australia, with its operations based in Australia and New Zealand.
For more information visit www.lctglobal.com or follow @lctglobal on Twitter, Facebook or LinkedIn.
Forward-looking statements
This document may contain certain forward-looking statements, relating to LCT's business, which canbe identified by the use of forward-looking terminology such as "promising," "probable", "plans," "anticipated," "will," "project," "believe," "forecast," "expected," "estimated," "targeting," "aiming," "set to," "potential," "seeking to," "goal," "could provide," "intends," "is being developed," "could be,""on track," or similar expressions, or by express or implied discussions regarding potential filings or marketing approvals, or potential future sales of product candidates. Such forward-looking statementsinvolve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no assurance that any existing or future regulatory filings will satisfy the FDA's and other health authorities' requirements regarding any one or more product candidates, nor can there be any assurance that such product candidates will be approved by any health authorities for sale in any market or that they will reach any particular level of sales. In particular, management's expectations regarding the approval and commercialisation of the product candidates could be affected by, among other things, unexpected clinical trial results, including additional analysis of existing clinical data, and new clinical data; unexpected regulatory actions or delays, or government regulation generally; our ability to obtain or maintain patent or other proprietary intellectual property protection; competition in general; government, industry, and general public pricing pressures; and additional factors that involve significant risks and uncertainties about our products, product candidates, financial results and business prospects. Should one or more of these risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. LCTis providing this information and does not assume any obligation to update any forward-looking statements contained in this document as a result of new information, future events or developmentsor otherwise.
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