Avita Medical Ltd. (ASX: AVH) announced it has closed the placement of its capital raising announced on 17 May 2011. The Company raised a total of AUD$9 million at an issue price of $0.10 per share. The placement was managed by Wilson HTM, with shares placed with Australian and international institutions together with sophisticated and professional investors. The placement was led by Australian Ethical Investments and closed oversubscribed.

Proceeds from the placement will be primarily directed to expansion of sales and marketing efforts and, secondarily, to research and development related to the Company’s regenerative medicine product line.

The Share Purchase Plan closed oversubscribed yesterday. The Company is currently finalizing total SPP funds received and, in accordance with our timetable, will make an announcement next week regarding the final total and scale back.

ABOUT RECELL® SPRAY-ON SKIN™

allows in-theater preparation of a spray-on suspension consisting of cells derived from a small (2x 2cm), thin (0.15-0.20mm) biopsy of a patient’s own skin that is sufficient to cover an area up to 80 times the size of the biopsy. The ReCell suspension contains basal keratinocytes, melanocytes, fibroblasts and Langerhans cells. The metabolically responsive epithelial cells migrate across the wound surface, leading to regeneration of skin of normal color and texture. ReCell requires only a minimal donor site and is immediately available as a cell-based spray at the patient’s bedside.

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.

ABOUT AVITA MEDICAL LTD.

Avita Medical () is a publicly listed medical technology company that develops and distributes regenerative and tissue-engineered products for the treatment of a broad range of wounds, scars and skin defects. Using patented and proprietary tissue-culture, collection and application technology, the company is able to provide innovative treatment solutions derived from a patient’s own skin. The company’s lead product, ReCell^® Spray-On Skin, has been designed for use in a wide variety of burns, plastic, reconstructive and cosmetic procedures.