Measurements and numerical modeling of a reamplification and reshaping (2R) regenerator demonstrate a steep power transfer function with adjustable threshold. The threshold can be adjusted more than 6 dB by simple control of the reverse bias voltage of the absorber section. The device consists of a semiconductor waveguide with alternating amplifier and absorber sections using quantum-well active material. The steep nonlinearity of the transfer function is achieved by concatenating several sections. We identify the saturation properties of the absorbing media, as dictated by the band-filling and field screening, as important for the observed transfer functions. The relation of the saturation powers of the gain and absorption sectionsis important for design optimization.