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Highlights
- Orthocell Ltd (OCC) achieves first sales of Remplir™ in Singapore.
- Remplir™ is now sold in Singapore, Australia, and New Zealand.
- Sales and surgeon endorsements of Remplir™ are growing.
Orthocell Ltd (ASX:OCC), a leader in regenerative medicine, has reached a significant milestone by achieving the first sales of its Remplir™ peripheral nerve repair device in Singapore. This accomplishment marks a crucial step in the company’s rapid commercialisation journey.
Orthocell recently appointed Device Technologies Asia (DT Asia) as its exclusive distribution partner. DT Asia has already taken initial orders for Remplir™, which is now available in Singapore, Australia, and New Zealand. The device is gaining traction, with a growing number of surgeons endorsing its unique repair capabilities.
The initial sales have occurred ahead of the planned Singapore market launch next quarter. Orthocell’s CEO and MD, Paul Anderson, expressed delight over the early sales, highlighting the quality of Remplir™ and the strength of their distribution partner, DT Asia.
Strategic Importance of Singapore
Singapore is a strategic market for Orthocell, serving as a hub for advanced medical treatments and a gateway to other substantial ASEAN markets. The global nerve repair market is estimated to exceed US$3.5 billion, and Orthocell is making rapid progress in commercialising Remplir™ in this region. Regulatory approval was received in October 2024, and the first sales were achieved by December 2024.
Distribution and Market Penetration
DT Asia is well-positioned to increase sales in Singapore, with established relationships with leading plastic reconstructive and orthopaedic surgeons. The distribution partner is responsible for marketing Remplir™, conducting medical education, and promoting the device to expand the network of referring surgeons.
Anderson noted, “Device Technologies is our chosen distribution partner in Australia, New Zealand, and Singapore and has moved quickly to begin selling Remplir™ in Singapore. We expect additional sales, revenue growth, and surgeon adoption to accelerate in the new year.”
Orthocell’s shares have seen significant growth, increasing by as much as 8% to A$1.08 and rising by over 77% since November 21.
Expanding Markets
Sales of Remplir™ have also been strong in Australia and New Zealand. Singapore represents the first major international market launch outside these regions. The swift progression from regulatory approval to sales highlights Orthocell’s commitment to global expansion and revenue generation.
With approximately $33 million in cash and no debt, Orthocell is well-positioned to launch Remplir™ in additional key markets, including the United States, South East Asia, Canada, and the EU/UK. The company is on track to submit its Remplir™ US 510(K) application this quarter, with plans for US FDA clearance and commercial distribution soon thereafter.
About Device Technologies Asia
Since 1992, DT Asia has provided healthcare professionals with access to innovative, high-quality medical devices and solutions. DT Asia’s vision is to enable superior health outcomes by connecting healthcare professionals with top medical technologies and supplies. The Device Technologies Group continues to grow, with over 200 trusted brands and 1,000 skilled staff across Australia, New Zealand, and Asia.
