Avita Medical, a regenerative medicine company in Australia with U.S. headquarters in Valencia, has partnered with the University of Colorado Anschutz Medical Campus to apply its Spray-On Skin Cells to patients with specific skin disorders.
According to a statement from the company on Monday, the partnership will explore the effects of Avita’s spray-on skin cells for patients with epidermolysis bullosa, a rare genetic condition that results in skin fragility, as well as other genetic skin disorders. Research will take place at the university’s Gates Center for Regenerative Medicine.
The partnership also combines Avita’s treatment with the university’s patent-pending, gene-editing technology. The team looks to take gene-edited skin cells and apply them to an affected area using the Avita Recell System.
“The Gates Center is a leader in developing therapeutic approaches for genetic skin diseases. Researchers at the Gates Center have developed a powerful new approach for treating genetic skin disorders and improving the lives of patients with epidermolysis bullosa,” said Dr. Mike Perry, chief executive of Avita Medical and adjunct professor at the Gates Center for Regenerative Medicine. “This agreement marks an important milestone in Avita’s mission to harness the potential of regenerative medicine to address unmet medical needs across a broad range of dermatological indications, including genetic disorders of the skin.”
The announcement comes on the heels of Avita announcing on Nov. 18 a new chief financial officer, David McIntyre, and unveiling a $120 million institutional placement to fund clinical trials and continue U.S. commercial growth.
American Depositary Receipts of Avita Medical (RCEL) closed Monday up 16 cents, or more than 2 percent, to $7.89 on the Nasdaq.