06.08.14
Orthocell Ltd., an Australian biotherapeutic technology development company, has launched an initial public offering (IPO), proposing to raise Australian $8 million ($7.5 million U.S.) by offering 20 million shares at an offer price of Australian $0.40 ($0.37 U.S.) a share.
Based in Murdoch, Australia, Orthocell focuses on the development of biological therapies and treatments for tendon and ligament tissue repair and regeneration.
The company is developing a collagen-based product called CelGro, which provides mechanical strength to facilitate tissue repair. It hopes to use the proceeds from the IPO to finalize the development of the product, and to expand the reach of its Ortho-ATI (Autologous Tenocyte Implantation) and Ortho-ACI (Autologous Chondrocyte Implantation) products, stem cell therapies that utilize a patient’s own cells to repair damaged tendons and cartilage respectively.
“Musculoskeletal conditions are the most common reason to access health care services and costs Australia more than $4 billion each year,” Chief Executive Paul Anderson said. “Regenerative medicine aims to address these conditions by repairing and regenerating damaged tissue using the body’s own building blocks in a more effective manner than ever before.”
OrthoCell plans to list on the Australian Securities Exchange by mid July.
Based in Murdoch, Australia, Orthocell focuses on the development of biological therapies and treatments for tendon and ligament tissue repair and regeneration.
The company is developing a collagen-based product called CelGro, which provides mechanical strength to facilitate tissue repair. It hopes to use the proceeds from the IPO to finalize the development of the product, and to expand the reach of its Ortho-ATI (Autologous Tenocyte Implantation) and Ortho-ACI (Autologous Chondrocyte Implantation) products, stem cell therapies that utilize a patient’s own cells to repair damaged tendons and cartilage respectively.
“Musculoskeletal conditions are the most common reason to access health care services and costs Australia more than $4 billion each year,” Chief Executive Paul Anderson said. “Regenerative medicine aims to address these conditions by repairing and regenerating damaged tissue using the body’s own building blocks in a more effective manner than ever before.”
OrthoCell plans to list on the Australian Securities Exchange by mid July.