Living Cell Technologies Limited has secured funding which will immediately enable the company to commence its plans for a third clinical trial of NTCELL? in Parkinson's disease. Third Clinical Trial: The third trial aims to determine if NTCELL provides neuroprotection to halt or delay the natural progression of Parkinson's disease. LCT has a funding strategy in place to fully execute the trial. Now that initial funds have been secured, work has commenced to finalise arrangements for the trial with the first patient expected to be implanted in 2024. Recipients will be monitored over three years. Earlier clinical trials demonstrated safety and some efficacy of NTCELL in patients with mid- and late-stage Parkinson's disease. Regulators advised that a further trial with a larger cohort of patients would be required to secure registration of NTCELL as a treatment for Parkinson's disease. LCT plans to source the necessary choroid plexus cells from pathogen-free pigs in New Zealand and encapsulate them in New Zealand and Australia. The clinical trial will take place in Sydney, Australia. Professor Bernie Tuch, Interim CEO of LCT, says that the capital raised will finally enable the company to follow the regulator's advice and conduct a more extensive test of NTCELL's efficacy. Capital Raise: Over the weekend LCT, via 180 Markets Pty Ltd, completed a placement to sophisticated investors of 142.4 million new shares and 269.4 million mandatorily converting notes that will, subject to shareholder approval, convert into 269.4 million new shares. The issues were at $0.0085 for each new share and each note, raising $3.5 million in total.