LCT completes $2.8m private placement and announces SPP

17 February 2016 – Sydney, Australia & Auckland, New Zealand – Living Cell Technologies Limited has completed the placement of 54,607,546 shares at $0.05063 to wholesale investors resident in New Zealand, raising $2,764,621. The issue price is a 10% discount to the 5 day volume weighted average price to 12 February 2016.

The funds will be used as working capital to carry out the Phase IIb clinical trial of lead product NTCELL® in Parkinson’s disease and to apply for provisional consent to treat paying patients in New Zealand in 2017.

Chief Executive Dr Ken Taylor says that all investors who took part in the previous private placement in October 2014 also participated in this placement, alongside a number of new investors.

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