ReGen Biologics Announces Common Stock Financing to Support Launch of Menaflex Collagen Meniscus Implant

HACKENSACK, N.J.–(BUSINESS WIRE)–ReGen Biologics (OTC: RGBO – News) (“ReGen”) announced today that on Friday, January 16, 2009, it completed the first of a two stage private placement of approximately $7 million of common stock. The second stage is estimated to result in the placement of approximately $3 million in additional common stock, providing for a total of approximately $10 million in combined gross proceeds. The proceeds will support the launch of the Company’s Menaflex™ product in the U.S., which recently received FDA clearance. Sanderling Venture Partners led the transaction with a new investment of approximately $4 million. Investors in the second stage of this financing are holders of options issued by the Company in connection with an earlier private placement.