• Orthocell’s Striate+ has begun sales in Canada following regulatory approval
  • The product’s 98.6% clinical success rate is also driving expansion into Brazil and Singapore
  • With $20.6 million in cash, Orthocell is well-positioned for further growth

 

Special Report: Orthocell has successfully launched Striate+ in Canada, and is rapidly expanding its footprint in the regenerative medicine market with new regulatory approvals and market entries on the horizon. 

Regenerative medicine company, Orthocell (ASX:OCC), has achieved a significant milestone with the first sales of its Striate+ product in Canada.

The milestone follows the product’s recent regulatory approval from Health Canada in early July, showcasing a swift transition from approval to revenue generation in this crucial new market.

Striate+ is a collagen membrane designed to support dental guided bone and tissue regeneration procedures. It’s designed to improve clinical outcomes by providing a strong barrier that aids in the regeneration of bone and soft tissue around the implant site.

The product has gained traction rapidly, having been approved for use in the USA, Australia, New Zealand, Europe, the United Kingdom and Canada.

It is exclusively distributed by BioHorizons Implant Systems Inc, one of the largest dental-implant companies globally. BioHorizons has swiftly turned those regulatory approvals into sales, reflecting Striate+’s strong market acceptance and potential.

The Canadian market alone is valued at approximately $60 million, with the global market opportunity for Striate+ exceeding $1 billion.

Strong sales traction in the existing markets has been driven by BioHorizons’ comprehensive marketing and medical education program, which has effectively informed clinicians about the benefits of Striate+.

This success is further supported by Striate+’s outstanding 98.6% success rate in the post-market clinical study.

Consequently, the product’s high-quality performance is motivating BioHorizons to pursue expansion into other large, attractive markets where they have established accounts and distribution networks.

 

Rollout into other markets

In line with this strategy, Orthocell and BioHorizons will aim to secure additional regulatory approvals, with expectations for Striate+ to gain approval in Brazil and Singapore within six to 12 months, and further applications currently under review.

The strategic partnership with BioHorizons has led to substantial revenue growth for Orthocell, with increasing quarterly revenue and record annual total revenue in FY24 of $6.76 million, up 30.76% from $5.17 million recorded in FY23.

Orthocell is now well positioned to expand Striate+ into more global markets, thanks to its solid cash reserve of $20.6 million, combined with a targeted regulatory strategy and the support of a global distribution partner.

“Commencement of sales in Canada is further validation of Orthocell’s expanding global footprint,” said Orthocell’s CEO, Paul Anderson, adding that BioHorizons has executed a rapid transition from approval to first sales.

“This reaffirms the high-quality nature of our product and partnership.”

Anderson said that once Singapore and Brazil applications are approved, Striate+ will be available for use in guided bone and tissue repair in seven large and attractive markets.

“And we will continue to accelerate approvals in what is a significant $1 billion annual global market.”

 

Remplir also gaining traction

Orthocell’s growth is not limited to Striate+ alone.

The company is also advancing the global rollout of its other technology, Remplir, a collagen wrap used for peripheral nerve repair.

Remplir has been approved for sale in Australia and New Zealand and is now gaining traction among surgeons in these regions.

The product has unique features such as reducing damaging sutures, creating an optimal healing environment and facilitating free gliding during the critical healing period.

Remplir is distributed by Device Technologies, which launched the product in Australia in November 2022.

Orthocell anticipates regulatory approval for Remplir in Singapore within the next six months and expects US FDA clearance within nine months.

Read more about that here: Orthocell ramps up global expansion of market-leading regenerative medicine products

 

This article was developed in collaboration with Orthocell, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Read MoreHealth

Featured Companies

You might be interested in