Avita wins US approval to sell its spray-on skin; shares jump 28pc
Spray-on skin maker Avita Medical is soaring today afte winning approval to sell its spray-on skin technology in the United States.
Avita (ASX:AVH) is working to commercialise a technology called RECELL, which helps skin growth after burns or chronic wounds and reduces the amount of skin harvested during surgery.
The technology was originally developed by former Australian of the Year Fiona Woods.
Trial results released in April showed the treatment significantly reduced donor skin requirements and pain. Earlier this year the company purchased a factory in California as it geared up for the launch.
The approval by the US’s Food and Drug Administration pushed the share price up 28 per cent to an intraday high of 11.5c — the sock’s highest point since November 2016.
Dr Michael Perry, Avita chief, said the approval was a milestone for the company.
“Patients are at the center of everything we do at Avita Medical and we are pleased to be able to provide an innovative solution for the treatment of severe burn injuries,” he said.
“Today’s approval of the RECELL System marks an important milestone for us and provides a new way to treat burns for the thousands of patients with significant unmet medical needs.
“We are grateful to those patients who participated in clinical trials of the RECELL System and to the clinical trial investigator teams whose dedication and scientific rigour made this approval possible.”