Lineage Cell Therapeutics, Inc. · AMEX:LCTX
Lineage Cell Therapeutics — Investor Presentation (September 2026)
49 slides from Lineage Cell Therapeutics's investor presentation, Sep 14, 2026
Slide 1: From promise to people.
From promise to people. Our mission is to pioneer a new branch of medicine based on the directed differentiation and transplant of allogeneic cells to patients CORPORATE OVERVIEW SEPTEMBER 14, 2026 NYSE AMERICAN: LCTX lineagecell.com
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation is for informational purposes only and is not an offer to sell or a solicitation of an offer to buy any securities of Lineage Cell Therapeutics, Inc. (“Lineage”). This presentation includes certain information obtained from trade and statistical services,
Slide 3: Lineage Cell Therapeutics
#ReplaceAndRestore TM Lineage Cell Therapeutics Broad Capabilities Highly Differentiated Validated Platform Cell manufacturing and transplant Allogeneic product 2 funded partnerships and technology candidates collaborations 7 2 Up to $670M * Cell types in development Active clinical trials Global pa
Slide 4: Lineage’s Allogeneic Cell Transplant Pipeline
Lineage’s Allogeneic Cell Transplant Pipeline PRECLINICAL CLINICAL IND- PROGRAM CELL TYPE INDICATION / STUDY RESEARCH PHASE 1 PHASE 2 PHASE 3 AFFILIATIONS ENABLING Dry AMD with Retinal Pigment >24 patients treated Phase 2a Enrolling OpRegen ® Geographic Atrophy Epithelials (RPE) (GAlette Study) Deve
Slide 5: The AlloSCOPE Platform
The AlloSCOPETM Platform Enabling commercially viable, next-generation cell therapies Allo S C O P E Allogeneic Scalable Consistent Off-the-shelf Pluripotent cell Engineering Eliminates donor MCB/WCB Process control Cryopreserved Multiple cell Genetic engineering variability, facilitate large for re
Slide 6: AlloSCOPE Platform: Two-Step Allogeneic Cell Production
AlloSCOPE Platform: Two-Step Allogeneic Cell Production 1 Expansion 2 Differentiation Retinal pigment epithelial cells Corneal endothelial cells Photoreceptors Hepatocytes Lipocytes Neurons Cardiomyocytes 200+ Oligodendrocytes ∞ β Islet cells Lymphocytes Chondrocytes single vial Human Osteochondrocy
Slide 7: AlloSCOPE Platform Successfully Reduced-to-Practice
AlloSCOPE Platform Successfully Reduced-to-Practice A Commercial-Scale, Cell-Based, GMP Production Process Lineage’s Production Capability Demonstrated Using Two Separate Cell Lines and Cell Types * * Developed and demonstrated the expertise to produce a cost-effective, scalable, and consistent supp
Slide 8: AlloSCOPE Platform CMC Requirements for a Successful Cell Therapy
AlloSCOPE Platform CMC Requirements for a Successful Cell Therapy Control (Safety) & Reproducibility • Source line characterization, cell banking, versatile expansion systems • Differentiation process development; closed system culturing conditions, optimization • Analytical methods, in-process cont
Slide 9: Proprietary “5D” Manufacturing
Proprietary “5D” Manufacturing • 5D is a specific and patented application of the AlloSCOPE platform that focuses on production of high volume, low passage, undifferentiated and genetically stable pluripotent stem cells • AlloSCOPE 5D can provide the control and reproducibility of 2D expansion withi
Slide 10: OpRegen Cell Therapy
OpRegen Cell Therapy ® RPE Cell Transplant to Treat Dry AMD with GA Improving structure and function, durably, from a single dose Roche/Genentech Alliance
Slide 11: Worldwide Collaboration
Worldwide Collaboration • Allogeneic, retinal pigment epithelial (RPE) cell transplant to treat ocular disorders (dry AMD with GA) • Roche and Genentech license agreement (2021); partner is responsible for clinical development and commercialization of OpRegen • $50M up front; $5M milestone received
Slide 12: Millions Suffer from Vision Loss due to Dry-AMD
Millions Suffer from Vision Loss due to Dry-AMD • Age-related macular degeneration (AMD) presents in two forms, wet and dry • Wet age-related macular degeneration (wet AMD) is usually caused by blood vessels that leak fluid or blood into the macula • Dry age-related macular degeneration (dry AMD) in
Slide 13: Lineage Approach - OpRegen Cell Therapy, a “Complete” Approach
Lineage Approach - OpRegen Cell Therapy, a “Complete” Approach OpRegen cell therapy is a one-time injection of fully mature and functional RPE cells currently in development for: 1) replacement and restoration of retinal tissue (anatomy), and 2) preservation or improvement of vision (function) Pre-T
Slide 14: Phase 1/2a Trial Complete, Long-Term Follow-Up Ongoing
Phase 1/2a Trial Complete, Long-Term Follow-Up Ongoing Cohorts 1 - 3 (Dose and Safety) Cohort 4 (Initial Clinical Activity) 12 Legally Blind Patients 12 Impaired Vision Patients Generally well - tolerated, Patients with extensive coverage of atrophic no reports of rejection area and foveal center (n
Slide 15: Exploratory Objective: Onset of Structural Improvement
Exploratory Objective: Onset of Structural Improvement In Study Eyes with Extensive OpRegen® Bleb Coverage (n=5) Structural improvement was assessed by 3 independent expert reviewers and based on meeting all of the following pre-specified criteriaa: a. Reduction in outer plexiform layer and/or inner
Slide 16: Exploratory Objective: Onset of Structural Improvement
Exploratory Objective: Onset of Structural Improvement In Study Eyes with Extensive OpRegen® Bleb Coverage (n=5) Structural improvement was assessed by 3 independent expert reviewers and based on meeting all of the following pre-specified criteriaa: a. Reduction in outer plexiform layer and/or inner
Slide 17: Cohort 4 BCVA Gains in Study Eyes Sustained 36 Months Post Treatment
Cohort 4 (Less advanced GA) BCVA Gains in Study Eyes Sustained 36 Months Post Treatment BCVA Gains Greater Among Eyes with Extensive Coverage of GA by the Surgical Bleb ETDRS, Early Treatment Diabetic Retinopathy Study. Retinal Innovation Summit, May 1, 2026 17
Slide 18: Cohort 4 BCVA Gains in Study Eyes Sustained 36 Months Post Treatment
Cohort 4 (Less advanced GA) BCVA Gains in Study Eyes Sustained 36 Months Post Treatment BCVA Gains Greater Among Eyes with Extensive Coverage of GA by the Surgical Bleb Extensive Bleb Coverage (n=5) Limited Bleb Coverage (n=7) ETDRS, Early Treatment Diabetic Retinopathy Study. Retinal Innovation Sum
Slide 19: Sustained Evidence of Retinal Structural Support by Quantitative OCT
Sustained Evidence of Retinal Structural Support by Quantitative OCT Observed through Month 36 (Cohort 4) Support Most Evident Among Eyes with Extensive Coverage of GA by the Surgical Bleb RPE Complex (RPE-C) External Limiting Membrane (ELM) Extensive Bleb Coverage (n=5) Limited Bleb Coverage (n=7)
Slide 20: Quantitation of RPEDC and ELM Area Shows Cases of Improvement
Quantitation of RPEDC and ELM Area Shows Cases of Improvement Between Baseline and 24 Months Post Treatment SD-OCT segmentationa Quantification RPEDC map ELM mapb Baseline Baseline 6.0 mm2 9.1 mm2 Month 24 Month 24 1.8 mm2 7.7 mm2 ELM, external limiting membrane; RPEDC, retinal pigment epithelium dr
Slide 21: Onset of Structural Improvement Within 3 Months in All 5 Patients
Onset of Structural Improvement Within 3 Months in All 5 Patients with Extensive Bleb Coverage • Structural improvement was only observed within GA lesions covered by surgical bleb • Maintenance and/or greater structural improvements were observed over time • These patients also had an average +4.4
Slide 22: Onset of Structural Improvement Within 3 Months in All 5 Patients
Onset of Structural Improvement Within 3 Months in All 5 Patients with Extensive Bleb Coverage • Structural improvement was only observed within GA lesions covered by surgical bleb • Maintenance and/or greater structural improvements were observed over time • These patients also had an average +4.4
Slide 23: Greater Visual and Structural Improvements with Extensive Bleb Coverage
Greater Visual and Structural Improvements in 5 Patients in Cohort 4 with Extensive Bleb Coverage BCVA Change in Study Eye at Month 12 +12.8 Letters Change from Baseline, ETDRS letters Mean BCVA +3.9 Letters Extensive Limited RPE and ELM Change in Study Eye at Month 12 Extensive Limited Bleb Coverag
Slide 24: Ongoing Development: The GAlette Study
Ongoing Development: The GAlette Study A multicenter, phase 2a open-label, single arm clinical study in patients with geographic atrophy (GA), secondary to age-related macular degeneration • Study sponsored and funded by Genentech • Seeks to evaluate the success and safety of subretinal delivery as
Slide 25: OpRegen Cell Therapy
OpRegen Cell Therapy • All patients (n=5) with extensive coverage of their area of atrophy with the OpRegen surgical bleb showed evidence of retinal structure improvement • Market opportunity not limited by monogenic deficiencies (e.g., gene therapy) • Well-tolerated; no cases of rejection (90d immu
Slide 26: Key Takeaway for the Lineage Approach
Key Takeaway for the Lineage Approach In certain settings, replacing whole cells may provide restorative benefits beyond the reach of traditional approaches #ReplaceandRestore 26
Slide 27: Repeating Success – OpRegen as a Case Study and Guide
Repeating Success – OpRegen as a Case Study and Guide Control (Safety) & Reproducibility 99.5% • Multiple clinical batches generated and released Positive • Comparability testing performed on batches • Single source, master bank cell line • No reports of transplant rejection to date Purity/Identity
Slide 28: OPC1
OPC1 Oligodendrocyte Cell Transplants for Spinal Cord Injuries More than 30 patients treated to date
Slide 29: Spinal Cord Injury (SCI) Burden & Unmet Needs
Spinal Cord Injury (SCI) Burden & Unmet Needs • ~18,000 cases per • Primary feature of a SCI year (US)1 is loss of mobility • A significant burden • Goal of OPC1 therapy is for patients and to restore arm, hand, caregivers2 and finger function — 67% of patients are unemployed 10 years • Greater mobi
Slide 30: Oligodendrocyte Cells as a Treatment Option for SCI
Oligodendrocyte Cells as a Treatment Option for SCI Transplanting oligodendrocytes may provide additional motor function and improve quality of life • Oligodendrocyte progenitor cells (OPCs) are • OPC1 is generated from an NIH-registered cell line precursors to the myelinating cells of the central n
Slide 31: OPC1 Triple Mechanisms of Action
OPC1 Triple Mechanisms of Action Preventing Cavitation Control OPC1 Myelination of Axons Neurotrophic Factors shiverer mouse shi mouse + OPC1 Control Media OPC1 Promote increased neurite outgrowth 31
Slide 32: Expected Recovery vs OPC1: Motor Function Gains
Expected Recovery1 vs OPC1: Motor Function Gains 4% No Improvement 32% No Improvement 96% No Increase 1 Motor Level Increase 68% ≥2 Motor Level Increase 32% 26% Expected OPC1 Recovery1 Clinical Results2 1. Steeves JD, Lammertse DP, Kramer JL, Kleitman N, Kalsi-Ryan S, Jones L, Curt A, Blight AR, And
Slide 33: Real-World Impacts from Motor Level Improvements
Real-World Impacts from Motor Level Improvements Motor level gains translate into meaningful improvements in self-care and large reductions in costs of care Cervical Injury Level Daily Home Care C1-3 24 Hour Attendant C4 18-24 Hour Attendant 6-12 Hours of C5 Assistance C6 4 Hours Housework C7-8 1 Ho
Slide 34: OPC1 Cervical Clinical Trial - Adverse Events
OPC1 Cervical Clinical Trial - Adverse Events The majority of adverse events were mild to moderate in severity All Treated Subjects (N=25) AEs SAEs Total 534 29 Related to OPC1 1* 0 Related to Injection Procedure 20 1 Related to Tacrolimus 11 1 To date, there have been no serious adverse events rela
Slide 35: OPC1 Cervical Clinical Trial - Cell Engraftment
OPC1 Cervical Clinical Trial - Cell Engraftment 12- and 24-Month MRI Scans Indicate Durable Engraftment • Cystic cavitation (syringomyelia) is a disorder which can damage nerve fibers and is expected to occur in ~80% of matched SCI cases • MRIs show formation of a tissue matrix at the injury site, i
Slide 36: OPC1 Thoracic & Cervical Clinical Trials Overview
OPC1 Thoracic & Cervical Clinical Trials Overview • Thoracic phase 1 clinical trial (N=5) — All active subjects followed for at least 14 years — Results published in Journal of Neurosurgery Spine (Vol 37, Issue 3, 2022) — No unexpected serious adverse events attributable to the OPC1 transplant: ― No
Slide 37: OPC1 Manufacturing Improvements: Lower Impurities
OPC1 Manufacturing Improvements: Lower Impurities Original Clinical Material Lineage Improved Process 37
Slide 38: OPC1 Single-Cell RNA-Seq (scRNA-seq) Data
OPC1 Single-Cell RNA-Seq (scRNA-seq) Data Epithelial Cells OPC Main OPC Main OPC1 - Original Clinical Material OPC1 – Lineage Improved Process The Lineage-improved process is reproducible, 10X original scale, is comparable in vivo to the original material, but is devoid of non-targeted (i.e. epithel
Slide 39: Novel Spinal Cord Delivery System (Ongoing Clinical Trial)
Novel Spinal Cord Delivery System (Ongoing Clinical Trial) • Manual Parenchymal Spinal Delivery System — Designed to be easier to use and safer for patients • Enhanced safety — Attaches directly to the patient, compatible with breathing motion — Designed to administer OPC1 without stopping patient v
Slide 40: Delivery of Oligodendrocyte Progenitor Cells for SCI: Evaluation of a Novel Device
Delivery of Oligodendrocyte Progenitor Cells for Spinal Cord Injury: Evaluation of a Novel Device • Open label, multi-center, device safety study in 3-5 subacute and for the first time, 3-5 chronic injury patients — Complete (ASIA-A) or incomplete (ASIA-B) SCI of cervical (C4-C7) or thoracic (T1-T10
Slide 41: OPC1 Program Summary
OPC1 Program Summary Key Takeaways Next Steps • Unmatched experience - one of the • DOSED study to evaluate safety of new longest running trials in the field and first delivery system ongoing (N= 6-10) of its kind — 3-5 subacute and for the first time, 3-5 chronic • Indication of efficacy compared t
Slide 42: OPC1 Asset Overview
OPC1 Asset Overview • OPC1 utilizes targeted cell replacement (similar to RPE for dry AMD) • OPC1 has RMAT & Orphan Drug Designations • OPC1 has received >$14M in grant support from CIRM • OPC1 may have application in other demyelinating conditions https://blog.cirm.ca.gov/2018/01/24/how-a-stem-cell
Slide 43: Looking Ahead: Preclinical and Research Programs
Looking Ahead: Preclinical and Research Programs ReSonance (Hearing Loss) COR1 (Corneal Endothelial Disease) ILT1 (Type 1 Diabetes) RND1 (Undisclosed) PNC1 (Vision Loss; Retinitis Pigmentosa)
Slide 44: ReSonance (ANP1) Collaboration
ReSonance (ANP1) Collaboration • ReSonance is a cell transplant comprised of auditory neuron progenitor cells • Administered surgically to the cochlea (inner ear); intended to treat auditory neuropathy spectrum disorders (hearing loss) • ReSonance is being developed under a research collaboration wi
Slide 45: COR1 - Corneal Endothelial Cell (CEnC) Therapy
COR1 - Corneal Endothelial Cell (CEnC) Therapy • Corneal endothelial cell therapy (from cadaveric sources) approved in Japan — Problem is low availability of organ donors as well as low inconsistent yield and quality of CEnCs — Millions of people are candidates for corneal transplants; only 1 donor
Slide 46: Islet Cell Transplant Research Initiative (ILT1) for Type 1 Diabetes
Islet Cell Transplant Research Initiative (ILT1) for Type 1 Diabetes • Islet cell transplants FDA approved; problem is lack of commercially viable source of islet cells — Current estimated dose approaches 1 billion cells per patient • Choosing to invert standard model of drug development to focus ou
Slide 47: Other Cell Transplant Research Programs
Other Cell Transplant Research Programs RND1 PNC1 Undisclosed Indications Photoreceptor cells (rods and cones) • Cell editing & engineering alliance • Intended to treat conditions of photoreceptor • Creates a hypoimmune cell line loss or dysfunction — mRNA-based B2M-deletion and HLA-E over- expressi
Slide 48: Lineage Corporate Profile
Lineage Corporate Profile Corporate Manufacturing Research & Headquarters Jerusalem BioPark, Development Carlsbad, California Israel San Diego, California Strong Financial Position (As of 6/30/2026) $50.8M* *Cash, cash equivalents and marketable securities 48
Slide 49: Our Inspiration.
Our Inspiration. View their stories at lineagecell.com/media 49
Lineage Cell Therapeutics — Investor Presentation (September 2026) on 6ix