08:56 AM EDT, 08/26/2025 (MT Newswires) -- Lineage Cell Therapeutics ( LCTX ) said Tuesday that it has partnered with William Demant Invest to jointly develop the company's ReSonance auditory neuronal cell transplant for hearing loss treatment.

William Demant Invest will invest up to $12 million in development costs, Lineage said.

The company said that the multi-year research partnership will involve preclinical development activities aimed at filing an Investigational New Drug application with the US Food and Drug Administration.

Development activities will be conducted by Lineage and scientists from the Eriksholm Research Centre in Denmark, a part of Demant's Oticon subsidiary, the company said.

Shares of the company were up 3% in recent Tuesday premarket activity.