Regenera Lists On ASX

Sydney, Australia: 4.50pm EST Wednesday 16 June 2004. Regenera (ASX:RGA ) today listed on the Australian Stock Exchange and closed at 49* cents with a volume of 1,011665*.

The Company raised over AUD$10 million in an Initial Public Offer (IPO) which was oversubscribed by $2 million. Regenera’s key product Visagen™ is a treatment for back of the eye diseases. Visagen™ is designed to address Age-related Macular Degeneration (AMD) and Diabetes-related back of the eye diseases and involves a proprietary formulation of the drug Triamcinolone Acetonide (TA) which is an established and proven synthetic corticosteroid for the treatment of AMD. TA is already widely used “off-label” by ophthalmologists in the US, where a Regenera Group company holds patent rights.

The Chairman of Regenera, Tony Fitzgerald said from the Stock Exchange: “We are very pleased with Regenera’s debut on the ASX. Regenera was established specifically to take advantage of global opportunities for emerging treatments for Age-related Macular Degeneration, diabetes related eye diseases and other inflammatory eye diseases.”

Dr William Ardrey, the company’s Chief Executive Officer added inflammatory eye diseases represents a substantial and growing area of unmet medical need and represent a large and growing potential market opportunity. With this in mind, Regenera aims to establish itself as a leading Australian eye care company with specific emphasis on developing innovative world class products to treat a range of eye diseases.

* As of 4.45pm EST

ABOUT REGENERA

Regenera operates in the area of ophthalmology and has, via its project company Retmed Pty Ltd, developed a treatment specifically for diseases of the back of the eye such as age-related macular degeneration (AMD) and diabetes related (DR) eye diseases.

Macular degeneration is the name given to the group of degenerative diseases that cause progressive loss of central vision, leaving only peripheral or side vision intact. It is usually related to ageing and most frequently affects people over 50 years of age, thus it is commonly referred to as Age-related macular degeneration. In Australia, an estimated 800,000 people suffer from Macular Degeneration, with 14% of sufferers exhibiting the late stages of the disease, which results in severe visual loss in one or both eyes. It is estimated that over 15 million people in the US have the condition. AMD and DR diseases are growing rapidly.

Visagen™, Regenera’s main product, is designed to address Age-related Macular Degeneration and Diabetes-related eye diseases and involves a proprietary formulation of the drug Triamcinolone Acetonide (TA). TA is an established and proven synthetic corticosteroid for the treatment of Age-related Macular Degeneration. Recent clinical studies have demonstrated the effectiveness of TA in treating these diseases either as a stand alone therapy or in conjunction with other treatments.

Dr William Ardrey

Chief Executive Officer

Regenera Limited

(08) 9389 5933

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