14 Jul 2008 14:30
ReGen Therapeutics Plc
14 July 2008 embargoed for 2.30pm to coincide with the US market opening
ReGen Therapeutics Plc ("ReGen" or the "Company") Ticker RGT announces that it is today being listed on the International OTCQX in New York. This is part of the Company's plans to establish its position in the USA the world's largest pharmaceutical market and the world's largest capital market for biotechnology companies.
The full text of the US press release is set out below:
'ReGen Therapeutics Plc Joins International OTCQX
NEW YORK - July 14, 2008 - Pink OTC Markets Inc., the leading electronic inter-dealer quotation system, trading technology and financial information provider for over-the-counter (OTC) securities, today announced that ReGen Therapeutics (OTCQX: REGUY), a pharmaceutical company engaged in the development of drugs for Alzheimer's disease and other neurological diseases and conditions, has chosen to list its American Depositary Receipts (ADR) on International OTCQX. ReGen Therapeutics' ADRs began trading today on the OTC market's prestigious tier, International PrimeQX. Investors can find current disclosure and financial information for the company on www.otcqx.com and www.pinksheets.com.
"We are pleased to welcome ReGen Therapeutics to the International OTCQX market tier," said R. Cromwell Coulson, Chairman and CEO of Pink OTC Markets. "As an International OTCQX-listed company, ReGen Therapeutics distinguishes itself as one of the most prestigious companies trading over-the-counter in the U.S., and becomes part of a visible market tier via which it can increase U.S. investor awareness and participation."
The Bank of New York Mellon will serve as ReGen Therapeutics' Principal American Liaison ("PAL") on the International OTCQX, responsible for providing guidance on listing requirements.
ReGen Therapeutics' ADRs will trade in the United States on International OTCQX under the ticker "REGUY" where each ADR will represent twenty ordinary shares. ReGen Therapeutics' shares are also listed on the London Stock Exchange's AIM market. The company's headquarters are in London, England.
About ReGen Therapeutics
ReGen Therapeutics is engaged in drug development for neurological diseases such as Alzheimer's, Parkinson's, Multiple Sclerosis and Amyotrophic Lateral Sclerosis. The company developed Colostrinin™, a proline-rich polypeptide complex derived from mammalian colostrum, viewed as having potential utility for neurodegenerative illnesses, and acquired the rights to develop a new use for the long-established pharmaceutical drug zolpidem for the treatment of brain dormancy/diaschesis. For more information: www.regentherapeutics.com.
About International OTCQX
International OTCQX provides a gateway to U.S. securities markets for international companies that are listed on a qualified non-U.S. exchange and provide ongoing disclosure in English to U.S. investors. More importantly, International OTCQX distinguishes the reputable international issuers from the 8,000 over-the-counter (OTC) securities traded in the U.S. Only leading companies that have substantial operating businesses and provide credible disclosure to the public are eligible for inclusion on the premium-tier International OTCQX, which commenced trading on March 5, 2007. For more about International OTCQX, visit www.otcqx.com.
About Pink OTC Markets Inc.
Pink OTC Markets Inc. provides the leading inter-dealer electronic quotation and trading system in the over-the-counter (OTC) securities market. We create innovative technology and data solutions to efficiently connect market participants, improve price discovery, increase issuer disclosure, and better inform investors. Pink OTC Markets operates the third largest U.S. equity trading venue which includes both the elite OTCQX market tiers for strong OTC-traded companies that can satisfy financial and disclosure listing standards and Pink Sheets for all other OTC quoted securities.
Over 230 financial service firms, including the ten largest U.S. investment banks, actively make markets in OTCQX and Pink Sheets quoted securities and in 2007 these firms traded over $160 billion of OTCQX and Pink Sheets securities. Pink OTC Markets offers widespread access to all U.S. broker-dealers, enabling investors to seamlessly trade these securities through their institutional, online, or full service brokers.
Pink OTC Markets is headquartered in New York City.
To learn more about how Pink OTC Markets' products and services make OTC markets more transparent, informed, and efficient, please visit our websites at www.pinksheets.com and www.otcqx.com or contact us at info@pinkotc.com.'
For further information:
Percy Lomax
ReGen Therapeutics Plc
Tel No 020 7153 4920
Roland Cornish/Felicity Geidt
Beaumont Cornish
Tel No 020 7628 3396
David Scott/Nick Bealer
Alexander David
Tel No 020 7448 9800
Adrian Duffield/Jon Davies
College Hill Associates
Tel No 020 7457 2020