Regeneus anticipates entering a binding arrangement with a manufacturing and commercialisation partner for its Progenza mesenchymal stem cell therapy technology in Japan by the end of the current quarter. Following on from the positive safety review of its STEP Phase I trial of Progenza in patients with knee osteoarthritis, it has already begun procuring donor material in preparation for manufacturing Progenza for a Phase II trial in Japan. Our valuation is virtually unchanged at A$108m (A$0.52/share) ahead of this potential re-rating catalyst.
