trading halt - capital raising, page-14

For what it's worth, I like it. Yes, all the usual criticisms - dilution, big discount tomarket etc. etc, but what else were they to do? La Jolla served a purpose, but the end-result was always to keep a lid on the SP as they recouped their funds by selling on-market.

I'd much prefer AVH to be well-capitalised and moving forward. Management can now be fully focussed on doing the business of turning Avita into the world-leading regenerative medicine company it deserves to be. Now we'll the SP react positively to good news on trials etc, and more impoartantly, hold the gains. Still a ridiculously small market cap for what is world-beating IP.

If anyone doubts this, BioShares reported this week that Shire PLC, a $51 billion dollar outfit, recently stumped up US$750 million in an all-cash bid for Advanced Biohealing, in a move to the field of regenerative medicine. AB sells Dermagraft, a bio-engineered skin substitute wound healing product from J&J. The move by Shire gazumped Advanced Biohealing's plans for an IPO which valued the company at US$600 million.

And to think AVH carries a current market cap of just A$15 million.