AVITA Medical Announces Institutional Placement of A$120.0 Million to Support Commercial Growth and Pipeline Development - Seite 2

Accelerating pipeline development

The funds from the Institutional Placement will enable AVITA Medical to fast-track progression of clinical development programs and to accelerate its broader commercialization strategy. Key initiatives include:

• Initiating U.S. pivotal trials to establish the safety and efficacy of the RECELL System in soft tissue reconstruction and traumatic wounds, as well as early intervention in the treatment of pediatric scald wounds
• Further development and submission to the FDA of a next generation RECELL System to facilitate access to the large outpatient market
• Pilot studies with the RECELL System for the treatment of vitiligo, and subsequent rapid advancement into a pivotal clinical trial to secureadva this indication in the U.S.
• Conducting research and preclinical studies to augment our existing IP portfolio
• Securing marketing approval and reimbursement for the RECELL System in Japan in collaboration with our partner, COSMOTEC, an M3 Group company targeting patients with burn injuries, soft tissue wounds, chronic wounds (DFUs/VLUs), and vitiligo
• Early phase research into cell and cell-based gene therapy for skin regeneration that either corrects inborn genetic defects of the skin or contributes materially to rejuvenation

In addition to the successful Institutional Placement, the Company’s CEO Dr Michael Perry has sold 23,470,000 shares to enable him to meet his tax obligations relating to previously issued Restricted Stock Units (RSUs).

ABOUT AVITA MEDICAL LIMITED

AVITA Medical is a regenerative medicine company with a technology platform positioned to address unmet medical needs in burns, chronic wounds, and aesthetics indications. AVITA Medical’s patented and proprietary collection and application technology provides innovative treatment solutions derived from the regenerative properties of a patient’s own skin. The medical devices work by preparing a REGENERATIVE EPIDERMAL SUSPENSION (RES), an autologous suspension comprised of the patient’s skin cells necessary to regenerate natural healthy epidermis. This autologous suspension is then sprayed onto the areas of the patient requiring treatment.