ASX Health Stocks: Avita to start selling RECELL across the US to treat extensive burns
Health & Biotech
Health & Biotech
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The ASX 200 Health Index (XHJ) is trading lower by 0.30% at the time of writing, compared to the broader index which is up by 0.90%.
Regenerative medicine company, Avita Medical (ASX:AVH), has been awarded a purchasing contract from Premier Inc to supply the RECELL system to hospitals across the US.
The RECELL system is a device that enables healthcare professionals to produce a suspension of Spray-On Skin Cells using a small sample of the patient’s own skin for the treatment of acute thermal burns.
This new agreement enables Avita access to Premier’s alliance of approximately 4,400 U.S. hospitals and 225,000 healthcare providers.
“When someone experiences a severe burn injury, time matters, and that is why this agreement with Premier is so important,” says Dr. Mike Perry, AVITA Medical’s CEO.
“It will help ensure that patients in need of treatment are able to efficiently and effectively access the RECELL system without delay,” he said.
Cannabis-based pharma Incannex Healthcare (ASX:IHL) announced that it will develop a combination treatment drug using virtual reality (VR) and psychedelics.
The company has signed a license deal with Monash University to use an immersive therapeutic VR environment developed by BrainPark, a clinical research platform at the University’s Turner Institute for Brain and Mental Health.
The license allows Incannex to investigate the use of the VR therapy tool in combination with a psychedelic drug, to develop a new treatment for severe forms of anxiety disorders.
The established VR treatment uses exposure that triggers stimuli in a graded and controlled manner, a procedure known as Exposure and Response Prevention, or ERP.
When combined with a psychedelic drug, IHL says it may develop changes in mental and biological responses, reducing pathological symptoms and behaviours.
Research and development costs will be borne by Incannex and undertaken by Monash, with $300k set to be paid to Monash upfront for the license.
A total of $500k has also been agreed between Monash and Incannex that will cover the cost for a second and third clinical trial, while a royalty of 7.5% of net sales will be paid subject to commercialisation.
Dr Alexandra Andrews will become Neurotech (ASX:NTI)’s new CEO, effective from 8th March.
NTI says Dr Andrews brings expertise in corporate development, investor engagement, product development and commercialisation, clinical trials and regulatory environments.
She has worked closely with clinical researchers, investors and entrepreneurs, providing scientific and strategic input into clinical development plans and overseeing manufacturing, says Neurotech.
At Stockhead we tell it like it is. While Incannex is a Stockhead advertiser, it did not sponsor this article.