Orthocell (ASX:OCC) has appointed Device Technologies Asia (DT Asia) as the exclusive distributor of its nerve repair device, Remplir, in Singapore. This marks the product’s first major international expansion beyond Australia and New Zealand, where sales have shown significant growth.
Orthocell is a regenerative medicine company focused on repairing bone and soft tissue injuries.
Remplir, a key product in the company’s portfolio, is a collagen nerve band used in peripheral nerve repair. It provides compression-free protection to the nerve, generating an ideal microenvironment to promote nerve healing. The device is resorbable, meaning it dissolves safely over time as the nerve regenerates, eliminating the need for surgical removal. This approach reduces surgical complexity, recovery time and patient discomfort, distinguishing it from conventional methods.
The distribution agreement follows Remplir’s recent regulatory approval in Singapore and is set to enable first market sales by the first quarter of 2025. Singapore is considered a strategic entry point for the ASEAN region, with its reputation for advanced medical treatments and regulatory influence. Orthocell estimates the global nerve repair market to be more than $3.5 billion.
Paul Anderson, CEO of Orthocell, commented: “Device Technologies Asia has a proven track record of successfully launching high-quality medical products. We are pleased to extend our partnership to Singapore and look forward to driving the adoption of Remplir in this key market.”
The company remains on track to submit an application to the US FDA for Remplir by the end of 2024.
The shares are trading up 9.38% at 70 cents.