Avita Medical Ltd (RCEL)

[Fmello]

There are a couple things that Perry could have said in that interview:

1) RECELL is the first FDA Class III medical device for burn surgeons that has been approved with the more stringent FDA PMA in 22 years. Other burn products in the space cost much more than ReCell and have the simpler FDA pathway approval which will make it much more difficult for them to get reimbursed by insurance, we don't have that problem.

2) ReCell can be prepared onsite and treat a wound in approximately 30 minutes. Competing products have to ship a skin sample offsite for processing. The turnaround for them is from 2 days to 2 weeks.

3) He should have mentioned that Avita has had contract with BARDA since 2015 in the amount of 80+ million and that the U.S. government would be stockpiling ReCell kits for national emergencies.

4) Avita manufactures the kits in their facility in California and will be able to manufacture over 4,000 RECELL units per month with the opportunity to achieve 90+% gross margins.

5) Instead of just saying that the Maricopa Burn Center would save 28 million a year, he should have also said that the average burn center would save 16% annually when using ReCell.