06/01/2006 - 15:09

Regenera completes name change

06/01/2006 - 15:09

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Perth-based biotech company Regenera Ltd has changed its name to Advanced Ocular Systems Ltd following its merger with US based refractive devices company Advanced Ocular Systems, Inc. on 30 December 2005.

Perth-based biotech company Regenera Ltd has changed its name to Advanced Ocular Systems Ltd following its merger with US based refractive devices company Advanced Ocular Systems, Inc. on 30 December 2005.

The company will operate from today with the new ASX ticker symbol of AOS.

The merger brings together two companies operating in different segments of the ophthalmology market and creates a business with a market capitalisation of about $92 million.

"The new name reflects the merged company's coherent focus on ophthalmic technologies and represents the nature of its business and breadth of product offerings more accurately," commented Advanced Ocular Systems executive chairman Tony Fitzgerald.

"We believe that there will be a progressive convergence of therapeutic and device approaches to major eye disorders with the aim of delivering more advanced, site specific treatments, hence the inclusion of the word 'systems' in the new name."

The company advised that on or about 13 January 2006 it expects to allocate AOS shares to the previous holders of Advanced Ocular Systems, Inc. stock. The company in keeping with the U.S. financial reporting year will see its financial year end on 31 December.

As part of the changes the U.S based chief executive of Advanced Ocular Systems, Inc.Dr Kenneth Taylor has been appointed managing director of the merged company.

In 2005, Regenera signed its first major licensing transaction with Alcon Manufacturing, and the receipt of its first licensing payment.

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