Lineage Cell Therapeutics Inc LCTX has opened a new research and development facility in Carlsbad, California.
What Happened: The new Carlsbad facility will broaden the company’s R&D capabilities in the U.S. and support the development of current and future allogeneic cell transplant programs.
The company has also announced the expansion of its manufacturing facility in Jerusalem, Israel, which will increase its infrastructure, including developing and optimizing larger-scale clinical manufacturing processes and continued execution under its ongoing collaboration with Roche Holdings AGRHHBY and Genentech for RG6501 (OpRegen).
RG6501 is a retinal pigment epithelium cell replacement therapy that has completed enrollment in a Phase 1/2a trial for geographic atrophy secondary to age-related macular degeneration.
Why It Matters: “The additional capacity also can help us become an even more capable partner in prospective alliances for new products and allow us to explore additional uses for our current cell transplant programs,” commented Brian Culley, Lineage CEO.
“The modest investments we are making today, partially offset by the termination of the lease for our research facility in Alameda, California, in January of next year, will help centralize our operations and put us in a position of greater readiness for future success,” Culley added.
Price Action: LCTX shares closed lower by 1.74% at $1.13 on Friday.
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