ReGen seeks more capital; positive results on anti-ageing, cancer
shares and/or securities to facilitate potential future
fundraisings and fund acquisition of complementary businesses; and
has reported positive findings in a study on Colostrinin's
anti-ageing and anti-cancer potential.
UK-based ReGen announced in July that it had raised 1.1m in a share placement to boost commercialisation of the ovine and bovine colostrum-based nutraceutical. An extraordinary general meeting has been called for September 26, to seek shareholder approval to raise more funds in the same way.
The solicitation of more capital comes as no surprise, however. Executive chairman Percy Lomax said at the time of the earlier placement that it may be required, depending on when the company starts to see revenue from commercialisation and other developmental milestones.
Very positive steps have been taken towards commercialisation, particularly with the signing of an agreement with Metagenics to make Colostrinin available to a pool of 30,000 healthcare practitioners in the US, with the option to extend to retail.
But it may still be some time before ReGen starts to see the fruits of this, since the agreement's finalisation is still dependent on completion of toxicology testing, regulatory filings, and due diligence on bulk manufacturing facilities.
The announcement of the meeting comes less than a week after ReGen announced positive results of a sponsored in vitro study, in which researchers at the University of Texas observed that Colostrinin reduced the spontaneous or induced mutation frequency of DNA cells (hamster and human).
Such DNA damage is implicated in the ageing process and cancer, so although research in this area is only at a very early stage, it suggests that the nutraceutical could have anti-ageing and anti-cancer benefits, in addition to the primary indication for Alzheimer's disease.
The study is published in the Journal of Experimental Therapeutics and Oncology (2006, Vol. 5, pp 249-259).
Lomax said: "These findings are particularly exciting… Firstly, they give yet further rationale to the marketing of Colostrinin as a nutritional supplement in the ageing population, as intended through our recent deal with Metagenics."
He added that it gives further scientific backing to the development of pharmaceutical compounds based on the active ingredients in Colostrinin, for use in specific disease conditions.
"[The study] suggests we may extend the disease indications we are currently exploring," he said.
