In brief: Recell, Avexa, CBio, Eqitx

Clinical Cell Culture (C3, ASX:CCE) has received CE Mark approval from European certification authority and notified body SGS for its Recell medical device, clearing the way for first sales of the product to plastic and cosmetic surgeons.

Recell allows surgeons to harvest healthy skin cells from a patient, which can then be processed and applied directly to wounds or burns. The product will be launched at the European Association of Plastic Surgeons meeting at the end of May.

"We are well advanced in Europe with surgeon and distributor training and this should facilitate a significant early market penetration rate," said C3 chief executive Trolls Jordansen.

Avexa raises $11.5 million

Avexa (ASX:AVX) shareholders have approved an oversubscribed fundraising under which the company raised AUD$11.5 million. This comprised $5.6 million raised through the offer of 28 million shares at $0.20 per share via a prospectus offer to new and existing retail and existing institutional shareholders, and $1.5 million in oversubscriptions raised through a shareholder priority offer.

Last month, Avexa also raised $2.4 million through a placement of 12 million shares to institutions and sophisticated retail investors.

Shareholders also approved the issue of 10 million $0.20 cent shares to Shire Pharmaceuticals, an equity stake which is consideration for the Phase II HIV drug AVX754 which Avexa licensed from Shire in January.

CBio signs Griffith for Phase IIa trials

Public unlisted company CBio has signed Griffith University to undertake a Phase II clinical trial with the company's Cpn10 in 25 multiple sclerosis patients at its Gold Coast campus. The Phase IIa study has already commenced at another site at the Royal Adelaide Hospital. Cpn10 -- Chaperonin 10 -- is a heat shock protein which has shown anti-inflammatory activity in a Phase Ib trial in MS patients.

Eqitx selects lead compound

ZingoTX, a subsidiary of Melbourne biotech Eqitx (ASX:EQX), has selected a lead compound for testing against neuropathic pain. The compound demonstrated effectiveness in reducing pain and inflammation in in vivo animal studies.