AVITA Therapeutics (ASX:AVH) share price climbs higher on reverse ageing project

The AVITA Therapeutics Inc (ASX:AVH) share price is pushing higher after announcing a new project which aims to reverse ageing…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The AVITA Therapeutics Inc (ASX: AVH) share price is pushing higher on Monday following the release of an announcement.

At the time of writing, the regenerative medicine company's shares are up over 2.5% to $6.10.

Why is the AVITA share price pushing higher?

Investors have been buying the company's shares this morning after it announced a preclinical research collaboration with Houston Methodist Research Institute.

According to the release, the collaboration will see the pairing of AVITA's proprietary Spray-On Skin Cells with Houston Methodist Research Institute's expertise in reversing cellular ageing.

The project is ultimately seeking to establish proof-of-concept for the development of a novel approach to reverse ageing and rejuvenate skin. It also includes the potential for broader applicability, such as scar revision and wound healing.

In addition to this, AVITA has entered into an option agreement to negotiate an exclusive, worldwide license to this patented technology for skin applications. It also has the first right of negotiation to technologies emerging from the collaboration for potential further development and commercialisation.

Management commentary.

AVITA Therapeutics' Chief Executive Officer, Dr. Mike Perry, commented: "The Houston Methodist Research Institute is at the forefront of developing cutting-edge approaches for reversing cellular aging, and we look forward to working together on the exploration of combining their technology with AVITA Therapeutics' proprietary Spray-on Skin Cells to rejuvenate aging skin."

"This collaboration expands our pipeline to include exploration of modified-cells delivery and is another milestone in our commitment to harnessing the promise of regenerative medicine and unlocking the full potential of our technology platform to improve patients' lives through skin restoration," he added.

This sentiment was echoed by the Houston Methodist Research Institute.

The Institute's Chair of the Department of Cardiovascular Sciences, John Cooke, M.D., Ph.D., commented: "AVITA Therapeutics' innovative platform has advanced care for burn patients, and we are encouraged by the progress we have seen with our technology in improving cell function through our progeria research."

"We look forward to collaborating with AVITA to combine our respective technology platforms to explore a potential new approach to reverse aging and improve functionality of skin. Our experience in RNAbased methods to regenerate blood vessels and reverse age-related endotheliopathy is directly relevant to skin repair and rejuvenation," he concluded.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Avita Medical Limited. The Motley Fool Australia has recommended Avita Medical Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

Man with rocket wings which have flames coming out of them.
Share Gainers

Guess which ASX All Ords stock just rocketed 34% on strong earnings growth

Investors just sent this ASX All Ords stock surging 34%. Here’s what’s happening.

Read more »

A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.
Share Gainers

Why Dimerix, Newmont, Regal Partners, and Titomic shares are storming higher

These shares are having a good finish to the week. Let's see why.

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Share Gainers

Why Fortescue, Lynas, PEXA, and Regis Healthcare shares are charging higher

These shares are having a strong session on Thursday. But why?

Read more »

A young man talks tech on his phone while looking at a laptop. A financial graph is superimposed across the image.
Share Gainers

Why Capricorn Metals, Insignia, Perseus Mining, and Qoria shares are storming higher

These shares are having a strong session on Tuesday. But why?

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Amaero, AMP, Block, and South32 shares are racing higher today

These shares are starting the week on a positive note. But why?

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another momentous session for ASX shares this Friday.

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Share Gainers

Why BHP, Catalyst Metals, Mesoblast, and Pilbara Minerals shares are shooting higher

These shares are ending the week with a bang. But why?

Read more »

Doctor doing a telemedicine using laptop at a medical clinic
Healthcare Shares

The Mesoblast share price just rocketed 38%! Here's why

ASX investors just sent the Mesoblast share price up 38%. But why?

Read more »