Lineage Cell Therapeutics Inc. (NYSEAMERICAN:LCTX) has three important clinical programs, which remaking airwaves in billion-dollar markets. They include OpRegen® in Phase 1/2a development as a therapy treatment for dry age-related macular degeneration. VAC is in clinical and preclinical development stages to treat non-small cell lung cancer and as a vaccine against infectious diseases, respectively. The last one is OPC1 in Phase 1/2a development is a therapy treatment for the treatment of acute spinal cord injuries. The programs are based on the company’s robust, proprietary cell-based therapy platform.
Today, the biotech has received a boost of $24.6 million in cash from Juvenescence Ltd. The payment, which will partially escalate the company’s operations, symbolized principal and interest due under a convertible promissory note.
Lineage’s Promising Cell Therapy Programs Are Advancing through Clinical Trials
Lineage is well-known for monetizing its broad patent and technology portfolio. It has had tremendous success and continues to build on its portfolio. The company says it has not carried out any traditional equity financing for the last three years. This may not happen even over the next two years, thanks to the $24 million just received.
The cash is expected to provide a runway for the business and support its advancement in clinical trials. In a capital-intensive industry, Lineage remains expectant of continued productivity, and according to CEO Brian M. Culley, the three cell therapy programs are already doing so well. He emphasizes the fact that they have not only a financial strategy but also a responsible cell therapy programs.
Lineage’s Long-Term Growth and Sustainability
Each of the company’s cell therapy programs has had reliable safety and efficacy data. These are quickly turning into significant commercial opportunities for long-term growth and sustainability. This goes hand in hand with the other plans and objectives Lineage has for the rest of 2020.
The company intends to announce the initial VAC2 clinical data from the ongoing Phase 1 trial of NSCLC (non-small cell lung cancer). It will also be completing patient enrollment in the ongoing Phase 1/2a clinical trial of OpRegen for the treatment of dry AMD.