• $30 million capital raising via institutional placement
• Proceeds to accelerate US rollout of nerve repair product Remplir, undertake clinical studies, and advance pipeline products
• Company to emerge with over $50 million in cash and no debt, fully funded for global commercialization strategy

Orthocell Ltd, a regenerative medicine company, has announced that it has received firm commitments to raise $30 million before costs through an institutional placement. The new shares will be issued under the company's placement capacity. Orthocell received significant interest for the placement from a combination of new US institutions, along with other international and domestic institutions and high net worth investors. Following the completion of the placement, the company will emerge with a robust balance sheet, with well over $50 million in cash and no debt, positioning it to accelerate the global commercialization of its technology, with a particular focus on the US rollout of its flagship nerve repair product, Remplir. The proceeds from the placement will be used to increase manufacturing capacity at Orthocell's existing West Australian facility, accelerate the sales ramp-up of Remplir in the US, conduct a clinical study to support the use of Remplir in prostate cancer surgeries, commercialize further regenerative medicine applications in tendon, ligament, and bone repair, and for general working capital and costs of the offer. Orthocell's CEO and MD, Paul Anderson, stated that the company has built significant momentum in the commercialization of Remplir, and the funds from the capital raising will be focused on accelerating that process. The company sees the support from new and existing institutional and high net worth investors, particularly the new investors from the US, as a significant endorsement of its strategy and progress to date, as well as the near-term revenue that can be generated from the US market.

Orthocell expects to see revenue from the US start ramping up in the December quarter. The company has recently announced its sixth consecutive quarter of record revenue primarily from its existing markets of Australia and Singapore, and it continues to track ahead of schedule in its US rollout of Remplir.

Orthocell is focused on accelerating the global commercialization of its technology, with a particular focus on the US rollout of its flagship nerve repair product, Remplir. The company is also seeing exciting prospects in other applications and technologies in regenerative medicine and will be continuing to invest in the expansion of its markets, including the potential for Remplir to be used in prostate cancer surgeries and applications in bone, tendon, and ligament regenerative medicines.