AUS
NZ
UK
CA
USA
IND
Orthocell Ltd (ASX: OCC), has advanced its global market expansion by making its debut in the Canadian biotech sector with the first sale of its products through distribution partner BioHorizons. This milestone marks a significant step in Orthocell’s strategy to penetrate international markets.
The initial sale of Striate+, a product designed for dental guided bone and tissue regeneration, follows its recent regulatory approval from Health Canada in early July. This rapid transition from regulatory approval to commercial sales underscores the potential of OCC products to quickly generate revenue.
The Canadian regenerative medicine market is estimated to be valued at approximately A$60 million, with the global market opportunity for Striate+ exceeding A$1 billion. This highlights the substantial growth potential for Orthocell’s offerings.
Looking ahead, Orthocell has plans to extend its reach further. The company aims to secure approvals in Singapore and Brazil, which would broaden the availability of Striate+ to include guided bone and tissue repair procedures in seven major and promising markets. The successful entry into Canada reinforces Orthocell’s expanding global footprint and the effectiveness of its strategic partnerships. Paul Anderson, Managing Director of Orthocell, emphasized the importance of this development, noting that BioHorizons’ swift execution from approval to first sales reflects the high quality of both the product and the partnership.
Striate+ is a collagen membrane utilized in dental guided bone and tissue regeneration procedures. It has already been approved for use in several regions, including the USA, Australia, New Zealand, Europe, the United Kingdom, and Canada. The product’s success is supported by its impressive 98.6% success rate in a post-market clinical study, which further validates its efficacy.
Orthocell is poised to enter the Singapore and Brazil markets within the next 6 to 12 months, continuing its growth trajectory. The company has recently reported record revenue and maintains a strong financial position, with substantial funds available to support ongoing and future expansion efforts.
This entry into the Canadian market represents a significant milestone for Orthocell, reinforcing its commitment to advancing its global presence and capitalizing on the extensive market opportunities for its regenerative medicine products.
