# EDGAR Filing Document

**Accession Number:** 0000876343
**File Stem:** 0000919574-25-007051
**Filing Date:** 2025-11
**Character Count:** 16297
**Document Hash:** dcf1563636704bae218d1c2ea9b21e90
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-25-007051.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0000919574-25-007051

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lineage Cell Therapeutics, Inc.
- **CENTRAL INDEX KEY:** 0000876343
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 943127919
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-42290
- **FILM NUMBER:** 251488598

**BUSINESS ADDRESS:**
- **STREET 1:** 2173 SALK AVENUE
- **STREET 2:** SUITE 200
- **CITY:** CARLSBAD
- **STATE:** CA
- **ZIP:** 92008
- **BUSINESS PHONE:** 5105213390

**MAIL ADDRESS:**
- **STREET 1:** 2173 SALK AVENUE
- **STREET 2:** SUITE 200
- **CITY:** CARLSBAD
- **STATE:** CA
- **ZIP:** 92008

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BIOTIME INC
- **DATE OF NAME CHANGE:** 19930328
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BROADWOOD PARTNERS, L.P.
- **CENTRAL INDEX KEY:** 0001278386

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** BROADWOOD CAPITAL INC.
- **STREET 2:** 156 WEST 56TH STREET, 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-508-5735

**MAIL ADDRESS:**
- **STREET 1:** BROADWOOD CAPITAL INC.
- **STREET 2:** 156 WEST 56TH STREET, 3RD FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BROADWOOD PARTNERS LP
- **DATE OF NAME CHANGE:** 20040202

## Ex-99

Exhibit A

<u>JOINT FILING AGREEMENT</u>

The undersigned agree that this Amendment No. 29 to Schedule 13D, dated November 14, 2025, relating to the Common shares, of Lineage Cell Therapeutics, Inc. shall be filed on behalf of the undersigned.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Dated: November 14, 2025 | &nbsp;&nbsp; Broadwood Partners, L.P. | &nbsp;&nbsp; Broadwood Partners, L.P. |
|  | &nbsp;&nbsp;By: | &nbsp;&nbsp;Broadwood Capital, Inc. |
|  | &nbsp;&nbsp;By: | &nbsp;&nbsp;/s/ Neal C. Bradsher |
|  | &nbsp;&nbsp;Name: | &nbsp;&nbsp;Neal C. Bradsher |
|  | &nbsp;&nbsp;Title: | &nbsp;&nbsp;President |
|  | &nbsp;&nbsp;Broadwood Capital, Inc. | &nbsp;&nbsp;Broadwood Capital, Inc. |
|  | &nbsp;&nbsp;By: | &nbsp;&nbsp;/s/ Neal C. Bradsher |
|  | &nbsp;&nbsp;Name: | &nbsp;&nbsp;Neal C. Bradsher |
|  | &nbsp;&nbsp;Title: | &nbsp;&nbsp;President |
|  | &nbsp;&nbsp;/s/ Neal C. Bradsher | &nbsp;&nbsp;/s/ Neal C. Bradsher |
|  | &nbsp;&nbsp;Neal C. Bradsher | &nbsp;&nbsp;Neal C. Bradsher |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 29)**

**Lineage Cell Therapeutics, Inc.**

*(Name of Issuer)*

**Common shares**

*(Title of Class of Securities)*

**53566P109**

*(CUSIP Number)*

**Neal C. Bradsher**<br>c/o Broadwood Capital, Inc.<br>156 West 56th Street, 3rd Floor<br>New York NY 10019<br>(212) 508-5735

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**11/12/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **53566P109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**BROADWOOD PARTNERS, L.P.** | Name of reporting person<br>**BROADWOOD PARTNERS, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**57455729.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**57455729.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**57455729.00** | Aggregate amount beneficially owned by each reporting person<br>**57455729.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**23.0%** | Percent of class represented by amount in Row (11)<br>**23.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **53566P109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**BROADWOOD CAPITAL, INC.** | Name of reporting person<br>**BROADWOOD CAPITAL, INC.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**NEW YORK** | Citizenship or place of organization<br>**NEW YORK** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**57455729.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**57455729.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**57455729.00** | Aggregate amount beneficially owned by each reporting person<br>**57455729.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**23.0%** | Percent of class represented by amount in Row (11)<br>**23.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

| **CUSIP No.** | **53566P109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**NEAL C. BRADSHER** | Name of reporting person<br>**NEAL C. BRADSHER** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**392628.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**57455729.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**392628.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**57455729.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**57848357.00** | Aggregate amount beneficially owned by each reporting person<br>**57848357.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**23.1%** | Percent of class represented by amount in Row (11)<br>**23.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common shares

**(b) Name of Issuer:**
Lineage Cell Therapeutics, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
2173 Salk Avenue, Suite 200, Carlsbad, CA, 92008

The name of the issuer is Lineage Cell Therapeutics, Inc., a California corporation (the "Issuer").  The address of the Issuer's principal executive office is 2173 Salk Avenue, Suite 200, Carlsbad, California 92008.  This Amendment No. 29 to Schedule 13D relates to the Issuer's Common shares (the "Shares").

**Item 4. Purpose of Transaction**

The Reporting Persons acquired their Shares for investment and are filing this Schedule 13D/A to report a decrease in their respective beneficial ownership percentages of the Shares as a result of the sale of 12,000,000 Shares by the Issuer to Janus Henderson Investors in a block transaction under the Issuer's at-the-market offering program as described in the Form 8-K filed with the Securities and Exchange Commission by the Issuer on November 12, 2025 (the "Form 8-K").

The foregoing is a summary of certain material terms of the Form 8-K.  However, such summary is not, and does not purport to be, complete and is qualified in its entirety by reference to the full text of the Form 8-K, which has been filed as Exhibit B, and is incorporated herein by reference.

Mr. Bradsher serves on the Board of Directors.

Except as otherwise set forth below, the Reporting Persons do not have any present plans or proposals which would relate to, or result in, the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D.  However, subject to market conditions and in compliance with applicable securities laws, the Reporting Persons reserve the right, at a later date, to effect one or more of such changes or transactions in the number of Shares they may be deemed to beneficially own in open-market or privately negotiated transactions, on such terms and at such times as the Reporting Persons may deem advisable.

The Reporting Persons have been and may continue to be in contact with members of the Board of Directors, other significant shareholders and others regarding alternatives and strategies that the Issuer could employ to significantly increase shareholder value over time.  Among these alternatives are additional improvements to the Board of Directors and management, as well as refinements to the Issuer's strategy that may improve its business, accelerate its progress with respect to its major growth opportunities, and realize the value of its non-strategic assets.  The Reporting Persons further reserve the right to act in concert with any other shareholders of the Issuer, or other persons, for a common purpose should they determine to do so, and/or to recommend courses of action to shareholders, the Board of Directors and/or the management of the Issuer.

**Item 5. Interest in Securities of the Issuer**

**(a)**
(a)-(d) As of the date hereof, Broadwood Partners may be deemed to be the beneficial owner of 57,455,729 Shares, constituting 23.0% of the Shares, based upon  250,222,274 Shares outstanding as of the date hereof, as adjusted to include common share purchase warrants beneficially owned by Broadwood Partners.  Broadwood Partners has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 57,455,729 Shares.  Broadwood Partners has sole power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct the disposition of 57,455,729 Shares.

As of the date hereof, Broadwood Capital may be deemed to be the beneficial owner of 57,455,729 Shares, constituting 23.0% of the Shares, based upon  250,222,274 Shares outstanding as of the date hereof, as adjusted to include common share purchase warrants beneficially owned by Broadwood Capital.  Broadwood Capital has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 57,455,729 Shares.  Broadwood Capital has sole power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct the disposition of 57,455,729 Shares.

As of the date hereof, Mr. Bradsher may be deemed to be the beneficial owner of 57,848,357 Shares, constituting 23.1% of the Shares, based upon  250,527,274 Shares outstanding as of the date hereof, as adjusted to include common share purchase warrants and stock options of the Issuer beneficially owned by Mr. Bradsher.  Mr. Bradsher has the sole power to vote or direct the vote of 392,628 Shares and the shared power to vote or direct the vote of 57,455,729 Shares.  Mr. Bradsher has sole power to dispose or direct the disposition of 392,628 Shares and the shared power to dispose or direct the disposition of 57,455,729 Shares.

There have been no transactions in the Shares by the Reporting Persons during the past sixty days.

(e) N/A

**(b)**
—

**(c)**
—

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

The information set forth in Item 4 above is incorporated by reference in its entirety in this Item 6.  In addition to the foregoing, as compensation for Mr. Bradsher's service as a member of the Board of Directors, Mr. Bradsher holds certain stock options that vest and become exercisable on the earlier of: (a) July 1, 2026 and (b) the date of the Issuer's next annual meeting of shareholders, subject, in each case, to Mr. Bradsher's continuous service with the Issuer as described in the Form 4 filed by Mr. Bradsher in respect of the Issuer on July 3, 2025.  The Reporting Persons do not have any contract, arrangement, understanding or relationship with any person with respect to securities of the Issuer that is not described herein and/or in a previous Schedule 13D filed by the Reporting Persons in respect of the Issuer.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** BROADWOOD PARTNERS, L.P.

**Signature:** By /s/ Neal C. Bradsher*

**Name/Title:** By Neal C. Bradsher/President of Broadwood Capital Inc.

**Date:** 11/14/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** BROADWOOD CAPITAL, INC.

**Signature:** By /s/ Neal C. Bradsher*

**Name/Title:** By Neal C. Bradsher/President

**Date:** 11/14/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** NEAL C. BRADSHER

**Signature:** By /s/ Neal C. Bradsher*

**Name/Title:** By Neal C. Bradsher

**Date:** 11/14/2025