The Australian government has bolstered Regeneus, a regenerative medicine company targeting cancer, osteoarthritis and other musculoskeletal conditions, with $2.73 million in funding.
In a Sept. 12 press release, Regeneus Ltd. (RGS:ASX) reported that monies received from the Research and Development (R&D) Tax Incentive Program will cover eligible R&D "activities conducted during the financial year 2016," which "increased to 77% compared to 68% in prior financial year." The company expects to receive similar incentives from the government agency in 2017.
Analyst Dennis Hulme of Edison Investment Research, in a report from mid-August, noted that the company is focused on "developing and commercialising its adipose-derived mesenchymal stem cell technology for musculoskeletal conditions in animals and humans." Two candidates are in Phase 1, according to the company: Progenza, an allogeneic off-the-shelf adipose stem cell therapy to treat osteoarthritis and other musculoskeletal conditions, and RGSH4K, a human autologous personalized therapeutic cancer vaccine targeting a variety of cancers.
"Cancer immunotherapy, including cancer vaccines such as RGSH4K, is a biotech hotspot." Hulme wrote.
Hulme also noted that "recent Japanese legislation offers an accelerated path to market for regenerative medicine products and the company aims to finalise manufacturing and clinical development partnerships in Japan in Q3/16."
Proactive Investors has also recognized Regeneus' Q3 financial and pipeline developments. In an article published in August, the group noted the company had been "granted a patent providing commercial rights in Europe for the treatment of acne using the company's stem cell secretion technology." The acne market, according to the article, is worth more than $3 billion a year.
"The granting of this patent represents a milestone for Regeneus as it builds upon its ability to apply its stem cell technology to acne treatment while expanding its patent presence to Europe for the first time," the article stated.
The article also noted that "Regeneus is on track to enter its first significant partnering agreement in Japan by the end of September for its stem cell product, Progenza." The company is also moving forward on a "regulatory registration pathway" in the U.S.
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Additional Disclosures for this Content
Edison Research, Edison Healthcare Insight, August 2016
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