Orthocell Successfully Lists On Australian Securities Exchange
8/12/2014 12:33:38 PM
Orthocell lists on ASX under the ticker code ASX: OCC
$8 million raised in oversubscribed IPO
Strong support reflects investors’ confidence in Orthocell and its technology
Perth, Australia; 12 August 2014: Commercial-stage regenerative medicine company Orthocell Limited is pleased to announce it has successfully listed on the Australian Securities Exchange (ASX) under the ticker code OCC.
The company raised $8 million in an oversubscribed IPO having received strong support from domestic and international institutions, funds and Australian retail investors.
Orthocell is focused on developing treatments for a variety of tendon, cartilage and soft tissue injuries. Its treatments include Autologous Tenocyte Implantation (Ortho-ATI™), a world-first stem cell therapy that uses a patient’s own cells to repair damaged tendons and ligaments and CelGro™, a collagen-based biodegradable scaffold which provides mechanical strength to facilitate tissue repair and healing in a variety of reconstructive surgical applications and is in late stage development.
“Orthocell is an exciting company that is well positioned in the rapidly growing market for regenerative medicine,” said Orthocell Managing Director Paul Anderson
“Listing on the ASX marks an exciting day in the history of our Company. While we already have products in market, an ASX listing will be invaluable in assisting us to increase marketing of Orthocell’s therapies and prepare for regulatory approval of our products, both domestically and overseas.”
The funds raised from the IPO will be used to:
Finalise the development of CelGro™ and lodge it for regulatory approvals;
Maintain regulatory approvals for Ortho-ATI™ and Ortho-ACI™ in Australia;
Increase marketing of Ortho-ATI™ in Australia; and
Prepare for regulatory approvals of Ortho-ATI™ in its first international market, likely to be either Europe or Japan.
“Orthocell has an exciting pipeline of products that will help people who are suffering from soft tissue injuries around the world,” Mr Anderson said.
“On behalf of Orthocell I would like to thank all of the investors who have made today possible and we look forward to updating shareholders on our progress and have them share in our future successes.”
The IPO was led by KTM Capital and Azure Capital with Shaw Stockbroking as co-manager.
For more information, please contact:
Orthocell Limited, Managing Director
P: (08) 9360 2888
P: (03) 8866 1215 / 0414 796 726
About Orthocell Limited
Orthocell is a commercial-stage, regenerative medicine company focused on developing products for a variety of tendon, cartilage and soft tissue injuries. Orthocell’s portfolio of products include TGA-approved stem cell therapies Autologous Tenocyte Implantation (Ortho-ATI™) and Autologous Chondrocyte Implantation (Ortho-ACI™), which aim to augment, repair, replace or regenerate areas which have been damaged by disease, injury or the ageing process. The Company’s other major product is Celgro™, a collagen medical device which facilitates tissue repair and healing in a variety of orthopaedic, reconstructive and surgical applications and is being readied for first regulatory approval.
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