NetworkNewsBreaks – Lineage Cell Therapeutics Inc. (NYSE American: LCTX) (TASE: LCTX) Receives More than $24M Payment, Provides Cash for Business Plan
Lineage Cell Therapeutics (NYSE American: LCTX) (TASE: LCTX), a clinical-stage biotechnology company developing novel cell therapies for unmet medical needs, has received a $24.6 million cash payment from Juvenescence Ltd. The payment from Juvenscence, a biopharmaceutical company that is building a pipeline of therapeutic assets to target aging, represents principal and interest due under a convertible promissory note issued in August 2018. The payment provides more than two years of cash runway for Lineage, which has identified several plans and objectives for the remainder of 2020. “Lineage has been tremendously successful at monetizing its extensive patent and technology portfolio, most notably…