Tokyo city, Japan
Market Herald logo


Be the first with the news that moves the market
  • Regenerative medicine company, Regeneus, now has enough funds to go ahead with commercialisation in Japan
  • The company has made a share shortfall placement of almost 9.5 million shares, to a Japanese life-science investor
  • Combined with a Non-Renounceable Rights Issue and a private placement, this $750,000 placement brings the total raised to $5.5 million
  • Regeneus plans to commercialise Progenza, a cell therapy technology that treats osteoarthritis, by 2023
  • Shares are up 43.9 per cent after the news, trading for 9.5 cents each

Regeneus (RGS), today announced a $755,029 share placement with a Japanese institutional investor as part of its funding to commercialise in Japan.

A share shortfall of 9,437,872 shares was placed with the investor, who has experience with regenerative medicine in Japan, at a price of $0.08 per share.

The shortfall shares were part of a Rights Issue and, in addition to $2.34 million from a private placement, brings the total capital raised to $5.5 million. Regeneus CEO, Leo Lee said the placement is key to the company’s next step in Japan.

“The completion of the non-renounceable rights issue, together with our streamlined internal operations and pending Progenza licensing deal in Japan, Regeneus will be sufficiently funded to commercialisation in Japan,” he said.

Progenza is a cell therapy technology being developed to treat osteoarthritis and other musculoskeletal disorders. According to the company it also has the potential to treat other inflammatory disorders.

The Australian-based company is planning to continue clinical development, manufacturing and commercialisation of the product in Japan.

Regeneus has already reached a strategic collaboration and licensing agreement with AGC, a biopharmaceutical contract manufacturer in Japan. They will work together on the manufacture, clinical development and commercialisation of Progenza, specifically for the Japanese market.

Regeneus identified Japan as a key target market, in partly due to an existing accelerated approval process for regenerative medicine.

A Phase 1 trials of Progenza for osteoarthritis was completed successfully and preparations are underway for a Phase 2 clinical trial in Japan.

The market responded positively to the news, with shares up 43.9 per cent. They were trading for 9.5 cents each at 15:58 on November 19, 2029.

RGS by the numbers
More From The Market Herald
The Market Herald Video

" Cynata Therapeutics (ASX:CYP) to conclude MEND trial following strategic review

Cynata Therapeutics (ASX:CYP) has completed a strategic review of its clinical development pipeline to maximise commercial…
The Market Herald Video

" AVITA Medical (ASX:AVH) reports positive results from soft tissue trial

AVITA Medical (ASX:AVH) reports positive top line results for its RECELL trial in patients with soft-tissue…
Paradigm Biopharmaceuticals (ASX:PAR) - CEO, Marco Polizzi

" Paradigm Biopharmaceuticals (ASX:PAR) enters trading halt amid cap raise

Paradigm Biopharmaceuticals (ASX:PAR) has entered into a trading halt ahead of a capital raise.
HITIQ (ASX:HIQ) - CEO, Mike Vegar

" HITIQ (ASX:HIQ) secures third Australian innovation patent

HITIQ (ASX:HIQ) has secured a third Australian innovation patent related to its virtual reality (VR) concussion…