The company will now work with its partners in Thailand to launch the product in the region. Pic: Getty Images.
Health & Biotech
Special Report: Biotechnology company ReNerve has secured marketing approval for its NervAlign Nerve Cuff product in Thailand, which is designed for the protection of repaired nerves and the regeneration of nerves after peripheral nerve injuries.
The company has been going from strength to strength since listing on the ASX in November last year, recently reporting its first half-year results with revenue for H1 FY25 of $102,000 – a 167% increase on the prior corresponding period.
The NervAlign product is unique in that it protects nerves while healing, but is also naturally absorbed within 6 months, leaving only regenerated repaired tissue.
The medical properties of the nerve cuff make it appropriate for a range of different types of surgeries including plastic surgery – which is popular in Thailand, drawing tourism to the Southeast Asian nation.
That is on top of existing and growing domestic population of 70 million people.
ReNerve (ASX:RNV) will now work with its local partner to launch the NervAlign product in the country, and has already received an initial stocking order from a hospital in Hong Kong – its first purchase from a hospital in the East Asian region.
The nerve cuff has been used for a broad range of reconstructive and nerve repair surgeries, and has been used by surgeons in breast augmentation and reconstructions, gender reassignment surgeries, as well as trauma and reconstructive surgery and revision surgeries in extremities.
This first deal with the Hong Kong hospital be an important first use in the region of the product, which is ideal for treating transection, compression and stump neuroma peripheral nerve injuries.
“The approval in Thailand is another step forward in the development of ReNerve’s operations in Asia and our plans to expand beyond the US,” ReNerve CEO Dr Julian Chick said.
“The initial order in Hong Kong is a significant milestone in that market and will serve as a reference for ongoing sales in the region.”
On the US front, the company is partnering with agents and distributors to push expansion, having already increased sales ~100% in 2024 compared to 2023 after the NervAlign Nerve Cuff was approved by the US Food and Drug Administration in 2022.
This article was developed in collaboration with ReNerve, 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.
Health & Biotech
Health & Biotech
Health & Biotech
