Health: Biofilm killer Next Science stays focused on the US market with four new product rollouts
Health & Biotech
Health & Biotech
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Medical company Next Science (ASX:NXS) reiterated its US market focus in an investor presentation this morning.
The company forecast continued revenue growth in the 2020 financial year, led by sales of its non-toxic Xbio formulations which attack the causes of infection during hospital surgery.
Next Science’s Bactisure surgical lavage treatment is used to break down biofilm — the protective layer that forms around bacteria which cause infection during hospital procedures.
The product has been approved for sale in the US, Canada, New Zealand and South Africa. In today’s presentation, Next Science said it expects to break into the European market in 2020, once CE Mark approval has been obtained.
The company also provided an update on its global distribution agreement for BlastX, an antimicrobial wound gel.
Next Science signed a distribution deal with US multinational 3M in January this year, however it said revenue growth was “constrained” during the middle part of the year due to “delays associated with 3M’s acquisition of Acelity Inc., a global advanced wound care specialist”.
Looking ahead, the company said it expects to see continued revenue growth after a steady first half in the six months to June, when revenue increased to $2.345m (up from $728,000).
However, it warned of a “lumpy revenue trajectory as 3M execute the KCI integration and new markets are entered for the BlastX and Bactisure products”.
In addition, NXS flagged four new product launches for the US market in 2020, covering both wound treatment and wound prevention.
On the prevention side, the company highlighted a disinfectant for hospital-acquired infections, and a surgical rinse to prevent the occurence of post-operative infection.
It also plans to introduce a sinus washout for chronic sinusitis and a middle ear wash to treat ear infections, pending regulatory submissions which have been moved to the first half of next year.
Shares in NXS edged higher in morning trade to $2.21. The company listed in April at $1 and initially rocketed above $4 before cooling off.
Medical tech company HeraMED (ASX:HMD) provided an update on trials of its prenatal health solution being carried out with Hapvida Saude, one of Brazil’s largest healthcare providers. The company said its HeraBEAT Smart Foetal monitors are being trialled on around 750 pregnant women, with discussions underway to progress to the next phase of testing. Shares in HMD were unchanged at 16c.