Biotech minnow ReGen Therapeutics has raised £1.1 million at 1p to help fund the commercialisation of its Colostrinin Alzheimer's treatment.

Bombed-out ReGen has raised the money through broker J.M.Finn from new and existing shareholders in the aftermath of signing an exclusive licencing deal with California-based Metagenics Inc, a leading developer and maker of 'nutraceuticals'. Percy Lomax, the AIM-quoted company's persistently cheerful executive chairman, says this agreement, which remains conditional on toxicology testing and due diligence by Metagenics, will be the prime route for bringing Colostrinin to market.

In a parallel development, ReGen's Zolpidem insommnia treatment has been receiving media attention in the USA following claims from specialists at the Royal Surrey Hospital that it has succeeded in reversing the effects of severe brain damage in certain cases. Lomax says a 'documentary film' about Zolpidem is now being discussed 'with a number of producers'.

At present, however, unless and until one or more of its products can be brought to market, ReGen's only revenues are £550,000 to £600,000 a year from the Guildford Clinical Pharmacology Unit. Accordingly, Lomax warns 'it may be necessary to raise additional amounts of capital in the future'.

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ReGen Therapeutics	AIM	£0.95m	6.50p	0.00p
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