ReGen Therapeutics, a company engaged in the drug development and ancillary services, has signed an agreement with Golgi Pharmaceuticals, a distributor of pharmaceuticals and nutraceuticals, to extend the current agreement which allows them to distribute Colostrinin in the Republic of Cyprus, to include distribution in Greece and other Balkan countries.
As part of this arrangement Golgi is directly investing GBP28,000 in cash into ReGen in exchange for 700,000 shares priced at four pence, which represents 3.4% of the enlarged share capital of the company, and will rank pari passu in all respects with the existing ordinary shares in the company. The proceeds will be used for general working capital purposes.
To date Colostrinin is marketed in the US, Canada and Australia under the brand name CogniSure and in Cyprus under the brand name Cognase as a nutritional supplement to support healthy brain aging and cognition in humans. It is currently being test marketed in Poland under the brand name CogniSure prior to a full launch in that country.
Earlier, ReGen signed an agreement with Golgi Pharmaceuticals to tablet and package Colostrinin in the Republic of Cyprus. It is expected that Golgi will be able to supply European and other nearby markets from this base mainly under the brandname Cognase.
Percy Lomax, chairman and CEO of ReGen, said: Golgi undertaking to distribute the product in further markets and finding the licensees for those markets is a crucial validation of Colostrinin.