HACKENSACK, N.J.--(BUSINESS WIRE)--ReGen Biologics (OTC: RGBO) (“ReGen”) announced today that it has completed a private placement of convertible notes resulting in gross proceeds of approximately $500,000. This incremental bridge financing (the “Financing”) follows the November 14, 2008 findings of the FDA Orthopaedic Advisory Panel that ReGen’s collagen scaffold device is as safe and effective as the predicate devices. The Financing is designed to enable the Company to operate through the expected timeframe required for a decision from the FDA on its 510(k) submission, following which the Company has in place a financing strategy designed to support launch of the collagen scaffold device in the U.S. should ReGen receive a favorable decision from the FDA.
