Benzinga | Feb 24, 2021 01:44PM EST

Longeveron's Allogeneic Cell Therapy Completes Early-Stage Study In Congenital Heart Defect

* Longeveron Inc (NASDAQ: LGVN) completes Phase 1 study of Lomecel-B in Hypoplastic Left Heart Syndrome (HLHS). Full results from the study will be released in Q2 2021.

* The study was supported in part by a Maryland Stem Cell Research Fund TEDCO Grant.

* The Phase 1 study was designed to assess the safety and tolerability of intramyocardial injection of Lomecel-B administered to 10 children with HLHS during the Stage 2 bidirectional cavopulmonary anastomosis surgery.

* Longeveron will advance its HLHS program into a Phase 2 expected to start in the third quarter of 2021. The 32-subject trial will be funded by a $5.6M grant from the National Institute of Health's National Heart, Lung and Blood Institute.

* Lomecel-B is an allogeneic, bone marrow-derived medicinal signaling cell product.

* HLHS is a rare congenital heart defect wherein babies are born with an underdeveloped left ventricle, impairing the heart's ability to pump adequate blood throughout the body.

* Price Action: LGVN gained 12% at $7.2 in market trading hours on the last check Wednesday.