AVITA Medical (ASX:AVH) Announces New Manufacturing and Distribution Agreements
Contract Manufacturing Agreement
AVITA Medical has entered into a new Contract Manufacturing Agreement for PermeaDerm Biosynthetic Wound Matrix, effective March 17, 2025. The company will manufacture PermeaDerm at its Ventura, California facility, ensuring continued availability and optimised production capabilities to meet growing market demand.
Distribution Agreement Amendment
The existing Exclusive Distribution Agreement with Stedical Scientific, executed in January 2024, has been amended to modify revenue-sharing terms, establish performance-based milestones, and extend the contract term. Under the new terms, AVITA Medical retains 60% of sales price from PermeaDerm sales, while Stedical Scientific receives 40% after manufacturing costs, up from 50% each.
Executive Comments
Jim Corbett, CEO of AVITA Medical, stated, “These strategic agreements reflect our shared commitment to driving innovation and expanding market access, while ensuring that patients continue to receive first-in-class care. We look forward to leveraging our expertise to continue to drive innovation and growth in therapeutic acute wound care.”
Lin Sun, Chairman of Stedical Scientific, added, “PermeaDerm has demonstrated great healing results when used for various wounds. We are excited to expand our collaboration with AVITA Medical through this manufacturing agreement. This partnership ensures a robust supply chain for PermeaDerm and strengthens our commitment to delivering cutting-edge solutions to the global market.”
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