{"id":12141,"date":"2024-07-11T02:58:48","date_gmt":"2024-07-11T02:58:48","guid":{"rendered":"https:\/\/economicherald.net\/?p=12141"},"modified":"2024-07-11T02:58:48","modified_gmt":"2024-07-11T02:58:48","slug":"orthocell-to-sell-striate-in-canada-after-regulatory-approval","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=12141","title":{"rendered":"Orthocell to sell Striate+ in Canada after regulatory approval"},"content":{"rendered":"<p>\u00a0<\/p>\n<p><strong>Orthocell receives regulatory approval to sell dental guided bone regeneration product Striate+ in Canada<\/strong><br \/>\n<strong>Approval complements existing approvals for Striate+ in other key markets including the US<\/strong><br \/>\n<strong>Orthocell\u2019s distribution partner Bio Horizons Implant Systems well established in Canadian dental market <\/strong><\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Regenerative medicine company Orthocell is expanding its global footprint and will start selling its market leading dental guided bone regeneration product, Striate+ in its key market of Canada after receiving regulatory approval in the country.<\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/orthocell-occ\/\" target=\"_blank\" rel=\"noopener\"><strong>Orthocell (ASX:OCC)<\/strong><\/a> has announced it has received a medical device licence from Health Canada, allowing the company to commence sales of Striate+ in the Canadian market, which it estimates to be worth $60m.<\/p>\n<p>OCC says Canadian regulatory approval complements existing approvals in the US, Europe\/UK, Australia and New Zealand for its trademarked Striate+ product, where the company has fast growing sales.++<\/p>\n<p>OCC\u2019s distribution partner for Striate+, Bio Horizons Implant Systems, which is one of the largest global dental implant companies, is well established in the Canadian market, which will facilitate a fast transition to first sales and revenue generation from the region.<\/p>\n<p>Orthocell\u2019s\u00a0Striate+ device\u00a0was invented, manufactured, and clinically validated in Australia \u2013 and is now being exported globally, at scale. A big win for the nation\u2019s\u00a0 bio-manufacturing sector.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>98.6% success rate supports sales<\/strong><\/h2>\n<p>Striate+ is a collagen membrane used to support guided bone regeneration in dental implant procedures.<\/p>\n<p>OCC says Striate+ is gaining strong traction in its existing markets, supported by a 98.6% success rate from the Striate+ dental implant post-market clinical study.<\/p>\n<p>Given sales in existing markets, OCC says it is working with BioHorizons to accelerate approvals in several other key global markets where it has large key accounts and\/or distribution networks.<\/p>\n<p>The company estimates the global market opportunity for its Striate+ products to be in excess of $1 billion.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Bio Horizons partnership pays off<\/strong><\/h2>\n<p>In June 2022, Orthocell secured\u00a0<a href=\"https:\/\/cdn-api.markitdigital.com\/apiman-gateway\/ASX\/asx-research\/1.0\/file\/2924-02535644-6A1097254?access_token=83ff96335c2d45a094df02a206a39ff4\" target=\"_blank\" rel=\"noopener\">a global exclusive license and manufacturing agreement for its dental bone and tissue regeneration product,\u00a0Striate+, worth AUD $23.1 million (USD $16 million).<\/a><\/p>\n<p>BioHorizons is part of Fortune 500 company Henry Schein and the acquisition of Orthocell\u2019s\u00a0Striate+\u00a0represented one of its first\u00a0deals to secure a biological medical device.<\/p>\n<p>OCC\u2019s strategic partnership with Bio Horizons, which is now in its second year, has resulted in quarterly revenue growth of an average 9%, compounded for the last seven quarters.<\/p>\n<p>The company recently announced record revenue for FY24 of $6.72m and says the revenue growth is evidence its products are achieving strong uptake in their respective markets.<\/p>\n<p>OCC says it is well funded for global market expansion, with a strong balance sheet and $20.6m in cash to support its growth strategy.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Expanding global footprint<\/strong><\/h2>\n<p>OCC managing director Paul Anderson says Canadian approval for Striate+ is further validation of its expanding global footprint.<\/p>\n<p>\u201cApproval in this market complements our FDA approval and strengthens the company\u2019s position to increase revenue, in collaboration with our valued partner BioHorizons,\u201d he says.<\/p>\n<p>\u201cAdditionally, it reaffirms the high quality of our product and world-class, scalable manufacturing process.\u201d<\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article was developed in collaboration with Orthocell, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/health\/orthocell-to-sell-striate-in-canada-after-regulatory-approval\/\">Orthocell to sell Striate+ in Canada after regulatory approval<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>\u00a0 Orthocell receives regulatory approval to sell dental guided bone regeneration product Striate+ in Canada Approval complements existing approvals for Striate+ in other key markets <a href=\"https:\/\/economicherald.net\/?p=12141\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":12142,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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