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Australia : DibbsBarker acts on first Australian biotechnology float in two years.

DibbsBarker has acted for Regeneus Ltd (RGS) in the first listing of a biotechnology company on the Australian Securities Exchange since 2011.

Shares in Regeneus, a Sydney-based regenerative medicine company, started trading on the Australian Securities Exchange on 19 September 2013, following a successful initial public offering (IPO). The offer raised A$10.5 million at A$0.25 per share, which valued the company at A$45.9 million upon listing.

Executive Chairman of Regeneus, John Martin, said We have been encouraged by the local and global interest in the IPO as well as from our existing shareholder base. DibbsBarker have been a great partner for us because of their good understanding of the issues faced by an emerging biotech company like Regeneus going through an IPO process. This comes from having the right people with the right experience in a firm with a long term interest in the healthcare and biotechnology sector.

DibbsBarker worked alongside joint lead managers for the initial public offering, Peloton Capital and BBY, as well as Regeneus' auditors, Grant Thornton, who assisted in the preparation of the Prospectus. The DibbsBarker team was led by Commercial Partners, Geoff Cairns and Lis Boyce, who is also the leader of DibbsBarker s Medical & Pharmaceutical practice and NSW Chair of industry body, AusMedtech.

Commenting on DibbsBarker s involvement, Geoff Cairns said We are delighted to have assisted Regeneus with its IPO. One of the five key industries on which the firm focuses is Medical & Pharmaceutical. Regeneus has an exciting story and the success of the IPO in a tough market is a testament to Regeneus place at the forefront of the commercialisation of stem cell based regenerative medicine.

Lis Boyce said Since acting on the establishment of ResMed 25 years ago, we have advised many start-ups, growing and listed companies in the life sciences space. We invest in the sector because we believe Australian innovation is amongst the best in the world. We hope high quality new listings like Regeneus will increase the profile of the sector to attract more funding and government support.

Founded in 2007, Regeneus has developed proprietary stem cell technologies which led to the market introduction of its patented HiQCellA autologous adipose-derived stem cell therapy in 2011. Since then it has been used by over 300 patients for the treatment of musculoskeletal conditions, such as osteoarthritis, tendinopathy and as an adjunct therapy for knee arthroscopy. These treated patients include elite athletes in their recovery from otherwise potentially career-limiting injuries.

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Publication:Mena Report
Date:Sep 27, 2013
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