The CEO of Perth-based biotech Regenera, Tony Fitzgerald, said today that he expected the company’s offer to close next week, oversubscribed, ready for a June listing.

Regenra plans to raise AUD$8 million to develop its therapy for age related macular degeneration AMD – a condition in which damage to the retina causes visual impairment. The therapy involves injecting a steroid, triamciolone acetomide, into the back of the eye every six months.

“We have had a very good response in a difficult market,” said Fitzgerald. He said there had been significant Australian investment and that a number of international opthamologists were also supporting the company.

Fitzgerald plans to gain both TGA approval and an international licence for Regenera's product, possibly as a co-therapy with another AMD treatment.