Researchers at the Gates Center have developed a powerful new approach for treating genetic skin disorders and improving the lives of patients with epidermolysis bullosa," said Dr. Mike Perry, chief executive of Avita Medical and adjunct professor at the Gates Center for Regenerative Medicine. "This agreement marks an important milestone in Avita's mission to harness the potential of regenerative medicine to address unmet medical needs across a broad range of dermatological indications, including genetic disorders of the skin." The announcement comes on the heels of Avita announcing on Nov. 18 a new chief financial officer, David McIntyre, and unveiling a $120 million institutional placement to fund clinical trials and continue U.S. commercial growth. American Depositary Receipts of Avita Medical (RCEL) closed Monday up 16 cents, or more than 2 percent, to $7.89 on the Nasdaq.