NORTHRIDGE, Calif. & CAMBRIDGE, United Kingdom--(BUSINESS WIRE)--Avita Medical Ltd. (ASX: AVH) (OTCQX:AVMXY), the regenerative medical company, is pleased to announce that the Company’s American Depositary Receipts (“ADRs”) will commence trading on the OTCQX® International marketplace in the United States. Avita’s ADRs will be traded under the symbol AVMXY, and each ADR contains 20 ordinary shares.
Avita has appointed Roth Capital Partners to act as its Principal American Liaison (PAL) and Bank of New York Mellon (NYSE:BK) as the depositary bank for its American Depositary Receipts (ADRs).
“Trading on the OTCQX marketplace is an important step for Avita’s continued growth and will provide increased visibility and access to U.S. investors,” said Dr William Dolphin, CEO, Avita.
"We are pleased to welcome Avita to OTCQX,” said R. Cromwell Coulson, President and CEO of OTC Markets Group. “The OTCQX platform offers investor-focused companies a winning combination of quality control, transparency, and broader visibility to U.S. investors.”
OTCQX is the premier tier of the OTC market designed for quality OTC companies that meet the highest financial standards and undergo a qualitative review. Investors can find current financial disclosure and quotes for Avita on www.otcqx.com.
The Company’s shares will continue to trade on the Australian Securities Exchange (ASX), as its primary market, under the symbol AVH.
ABOUT AVITA MEDICAL LTD.
Avita Medical (www.avitamedical.com) develops and distributes regenerative and tissue-engineered products for the treatment of a broad range of wounds, scars and skin defects. Avita’s patented and proprietary tissue-culture, collection and application technology provides innovative treatment solutions derived from a patient’s own skin. The company’s lead product, ReCell Spray-On Skin, is used in a wide variety of burns, plastic, reconstructive and cosmetic procedures. ReCell is patented, CE-marked for Europe, TGA-registered in Australia, and SFDA-cleared in China. ReCell is not available for sale in the United States; in the U.S. ReCell is an investigational device limited by federal law to investigational use. A Phase III FDA trial is in process.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) is a financial information and technology services company that provides the world's largest electronic marketplace for broker. Our OTC Link® trading system delivers price transparency in over 10,000 securities and enables direct interaction between broker-dealers that provide liquidity and execution services.
This news release may include forward-looking statements, identifiable by the use of words such as “anticipate”, “expect”, “estimate”, “potential”, “may”, or similar expressions, that involve risks and uncertainties. These forward-looking statements speak only as at the date of this release, are based on management’s expectations concerning future events and are necessarily subject to risks, uncertainties and other factors outside the control of Avita Medical that could cause actual results to differ materially from such statements. This document is for background information only and does not purport to make any recommendation upon which you may reasonably rely without taking more specific advice.