AVITA Medical (ASX:AVH), an Australian-based global regenerative medicine company, will be added to the S&P/ASX 300 index from 23 September 2019.
“We are pleased to be included in the S&P/ASX 300 index, which is a reflection of the increased market capitalization and trading liquidity the company has achieved this year while advancing the development and commercialization of our innovative regenerative medicine technology platform,” said Dr Michael Perry, AVITA Medical CEO.
“We believe AVITA Medical remains an attractive security as we work to expand the use of the RECELL System to advance patient care and address unmet medical needs across numerous dermatological indications,” added Dr Perry.
The RECELL System uses a small amount of a patient’s own skin to prepare Spray-On Skin Cells at the point of care. It is approved by the US FDA for the treatment of acute thermal burns in patients 18 years and older. In other international markets, it is approved to promote skin healing in a wide range of applications including burns, acute wounds, scars and vitiligo.
The S&P/ASX 300 Index, which is rebalanced semi-annually, measures the performance of the largest 300 companies based on market capitalisation on the ASX.