Avita Medical Ltd. (ASX: AVH), the regenerative medicine company, announced today that Wilson HTM Investment Group on Monday has initiated coverage of Avita Medical. Analyst Dr Graeme Wald gave Avita a "Buy" rating with a 12-month price target of $0.39 per share. In a research note, Wilson HTM stated: “We believe AVH has the ability to transform the treatment of burns, scars and diabetic foot ulcers and also has major applications in the aesthetics market.”

The full report is available at www.avitamedical.com/index.php?ob=2&id=175

ABOUT RECELL® SPRAY-ON SKIN™

Avita Medical’s stem-cell technology harnesses the body’s intrinsic ability to heal itself and packages it into an easy-to-use bedside kit for the clinician. ReCell 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.

This news release may include forward-looking statements that involve risks and uncertainties. You can identify these statements by the use of words such as “anticipate”, “estimate”, “expect”, “project”, “potential”, “intend”, “plan”, “believe”, “target”, “may”, “assume” or similar expressions. These forward-looking statements speak only as at the date of this release and are based on management’s expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Avita Medical that could cause actual results to differ materially from such statements. Avita Medical makes no undertaking to subsequently update or revise the forward-looking statements made in this release to reflect events or circumstances after the date of this release. This document is intended to provide background information only and does not purport to make any recommendation upon which you may reasonably rely without taking further and more specific advice.