Perth, Australia; (5 June 2014): Commercial-stage regenerative medicine company Orthocell Limited is pleased to announce the opening of its Initial Public Offering to raise up to A$8 million.
Orthocell is offering 20 million shares to be listed on the Australian Securities Exchange at $0.40 a share.
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 scaffold which provides mechanical strength to facilitate tissue repair and healing in a variety of reconstructive surgical applications and is in late stage development.
“We are pleased to invite investors to join Orthocell as the company embarks on an exciting phase of its development,” Orthocell CEO Paul Anderson said.
The funds raised from the IPO will be used to:
• Finalise the development of CelGro™ and lodge it for regulatory approval in Australia;
• 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.
The IPO is being led by KTM Capital and Azure Capital with Shaw Stockbroking as co-manager.
The offer of shares in Orthocell is made in a Prospectus lodged with the Australian Securities and Investments Commission (ASIC) on Wednesday 28 May 2014. Copies of the Prospectus are available on the Company’s website www.orthocell.com.au or from KTM Capital or Azure Capital.
Applications for shares by investors may only be made using the Application Form that will be in, or accompany, the Prospectus. The Offer is contained in the Prospectus and potential investors should consider the Prospectus in its entirety before making a decision whether to apply for shares.
For more information, please contact:
General enquiries
Paul Anderson
Orthocell Limited, Managing Director
P: (08) 9360 2888
E: paulanderson@orthocell.com.au
Media enquiries
Gavin Lower
Buchan Consulting
P: (03) 8866 1215 / 0414 796 726
E: glower@buchanwe.com.au
About Orthocell Limited
Orthocell is a regenerative medicine company focused on developing therapies for a variety of tendon, cartilage and soft tissue injuries. Orthocell’s line of master 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 ageing process. The Company’s third product, Celgro™, is a collagen-based scaffold which enables fast and effective delivery of a patient’s cultured cells while providing the mechanical strength necessary to facilitate healing in a variety of orthopaedic, reconstructive and general surgical applications.
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