Capital Raise up to $5.5 million supports Progenza commercialisation strategy

Thursday, 1 August 2019
Highlights
  • Regeneus successfully completes a $2.34 million placement, receiving strong support from institutional, sophisticated and professional investors from Australia, Japan, Singapore, China and US.
  • A Rights Issue to raise up to an additional $3.2 million from eligible shareholders has been launched, with any shortfall to be partially underwritten by the Company’s Directors
  • The funds raised will provide the Company with sufficient runway to secure a commercialisation licensing deal for Progenza for osteoarthritis in Japan
  • Regeneus is poised to finalise this commercial licensing deal, which will represent a major milestone towards bringing Progenza commercially to market by 2023
  • Initiatives to realise cost synergies from the re-alignment of operations to the Company’s revised strategic direction will be implemented in early FY2020

Regeneus Ltd (ASX: RGS), is pleased to announce it has successfully completed a $2.34 million capital raise via a Private Placement and will raise up to a further $3.2 million via a partially underwritten Rights Issue to existing, eligible shareholders.