Peter Fonda, known for playing Wyatt in Dennis Hopper seminary film 'Easy Rider' has died from lung cancer at his Los Angeles residence.

Fonda passed away peacefully, in the presence of his loving family members. Peter Fonda was the son of legendary actor Henry Fonda and the ger brother of Jane Fonda. While he might not have been at the same level as the two, Peter made a mark in cinematic history with 'Easy Rider' which recently celebrated its 50th anniversary.

'Easy Rider' was written by Peter Fonda, who also appeared in it with director Dennis Hopper and'The Shining' Jack Nicholson. The movie was about two bike riding hippies Wyatt ( Peter Fonda) and Billy (Dennis Hopper) who make a cross country trip in search of spiritual truth. Along their journey, they encounter small-town bias and fellow travelers.

An official statement from the family reads " It is with deep sorrow that we share the news that Peter Fonda has passed away.

"In one of the saddest moments of our lives, we are not able to find the appropriate words to express the pain in our hearts. As we grieve, we ask that you respect our privacy. And, while we mourn the loss of this sweet and gracious man, we also wish for all to celebrate his indomitable spirit and love of life.

`In honor of Peter, please raise a glass to freedom.`

Made on a meager budget, it earned a collection of $ 40 Million worldwide; with Fonda receiving an Oscar nomination for Best Original Screenplay. It was a landmark counterculture film which helped usher an industry for independent cinema, a movement that came to be known as 'New Hollywood'.