KEY POINTS:
Living Cell Technologies has signed a non-binding letter of intent to sell up to A$9.8 million of shares to clients of US investment group NaviGroup Management.
The company has a corporate office in Australia and is ASX-listed, with development and manufacturing operations in New Zealand.
The funds will be used as working capital to further Living Cell's DiabeCell clinical trials in Russia and New Zealand, and expansion of a pig breeding herd.
The company last month was approved to resume clinical trails in New Zealand for implanting insulin-producing pig cells into diabetics.
