Update: Potential Japan licence deal a STEP closer
Regeneus reported that its STEP Phase I trial of Progenza in patients with knee osteoarthritis has completed recruitment and that a review of safety data did not identify any safety concerns. The study will complete in H117 when all patients have completed 12 months follow-up. We believe the positive safety review augurs well for the company’s plan to secure a manufacturing and commercial partner for its Progenza mesenchymal stem cell therapy technology in Japan in the current quarter, which may prompt a re-rating of the stock. We leave our valuation unchanged at A$106m (A$0.51/share) ahead of this potential re-rating catalyst.Regeneus is engaged in the development and commercialization of proprietary adipose-derived stem cell technologies used by physicians and veterinarians to treat musculoskeletal conditions in humans and animals.
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