Japanese Biotech Fund takes up all Rights Issue Shortfall
ASX:RGS), a clinical-stage regenerative medicine company, has placed the full shortfall of 9,437,872 shares under its recent Non-Renounceable Rights Issue. The shortfall was placed to a Japan-based institutional investor at an issue price of A$0.08 per share for a total of A$755,029. It is expected that the shortfall shares will be issued on 20 November 2019. The total cash raised from the Private Placement, the Non-Renounceable Rights Issue and this shortfall placement is circa $5.5 million.
CEO of Regeneus Leo Lee said: "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.
"We are pleased this transaction was completed with the support of an institutional investor with significant experience in the Japanese life sciences and regenerative medicine space, as we see it as validation of our commercialisation strategy for Progenza in Japan."
About Regeneus Ltd
Regeneus Ltd (ASX:RGS) is a Sydney-based clinical-stage regenerative medicine company using stem cell technologies to develop a portfolio of novel cell-based therapies to address significant unmet medical needs in the human health markets with a focus on osteoarthritis and other musculoskeletal disorders, neuropathic pain and dermatology.
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