Longeveron (NASDAQ: LGVN), a clinical-stage, regenerative-medicine biotechnology company developing cellular therapies for rare, life-threatening and chronic aging-related conditions, is reporting on its second-quarter 2024 financial results, as well as key business milestones. Highlights of the report include positive data from LGNV’s phase 2a clinical trial designed to evaluate Lomecel-B(TM) in Alzheimer’s disease being presented at the Alzheimer’s Association International Conference(R) (“AAIC”); receiving both Regenerative Medicine Advanced Therapy (“RMAT”) designation and Fast Track designation for Lomecel-B from the U.S. Food and Drug Administration (“FDA”); reaching 70% enrollment in phase 2b clinical trial evaluating Lomecel-B in rare pediatric disease Hypoplastic Left Heart Syndrome (“HLHS”); and financing transaction and warrant exercises raising $15.3 million in gross proceeds, which will be used to fund continued clinical development.
“In the second quarter, we continued to make strong progress advancing our investigational cellular therapy candidate, Lomecel-B, as a potential treatment for both Alzheimer’s disease and Hypoplastic Left Heart Syndrome (HLHS),” said Longeveron CEO Wa’el Hashad in the press release. “With the capital we have recently raised from warrant exercises and equity transactions, including participation from certain board members and insiders of the company in one of those transactions, we believe we have capital sufficient to fund the company through the fourth quarter of 2025.”
To view the full press release, visit https://ibn.fm/Vshz8
About Longeveron Inc.
Longeveron is a clinical-stage, biotechnology company developing regenerative medicines to address unmet medical needs. The company’s lead investigational product is Lomecel-B(TM), an allogeneic medicinal signaling cell (“MSC”) therapy product isolated from the bone marrow of young, healthy adult donors. Lomecel-B(TM) has multiple potential mechanisms of action encompassing provascular, proregenerative, anti-inflammatory, and tissue repair and healing effects with broad potential applications across a spectrum of disease areas. Longeveron is currently pursuing three pipeline indications: hypoplastic left heart syndrome (“HLHS”), Alzheimer’s disease and Aging-Related Frailty. Lomecel-B development programs have received five separate and distinct FDA designations: for the HLHS program – Orphan Drug designation, Fast Track designation and Rare Pediatric Disease designation; and for the Alzheimer’s disease program – Regenerative Medicine Advanced Therapy (“RMAT”) designation and Fast Track designation. To learn more about the company, visit www.Longeveron.com.
NOTE TO INVESTORS: The latest news and updates relating to LGVN are available in the company’s newsroom at https://ibn.fm/LGVN
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