Orthocell (ASX:OCC) has appointed Device Technologies Asia (DVT 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 wrap used in the repair of peripheral nerves. It provides compression-free protection to the nerve, generating an ideal microenvironment to aid nerve healing. The device is resorbable, meaning it safely dissolves over time as the nerve regenerates, eliminating the need for surgical removal. This approach reduces surgical complexity, recovery times, and patient discomfort, setting it apart from conventional methods.
The distribution agreement follows the recent regulatory approval of Remplir in Singapore and is set to enable first sales in the market by Q1 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 exceed US$3.5bn.
Paul Anderson, Orthocell’s Chief Executive Officer, commented, “Device Technologies Asia has a proven track record of successfully launching high-quality medical products. We are delighted to extend our partnership to Singapore and look forward to driving adoption of Remplir in this key market.”
The company remains on track to submit a US FDA application for Remplir by the end of 2024.
Shares are trading 9.38% higher at 70 cents.
