Orthocell Limited (ASX:OCC) Receives Singapore Regulatory Approval for Striate+
Regulatory Approval
Orthocell Limited has obtained approval from Singapore’s Health Sciences Authority (HSA) to commence sales of its dental guided bone regeneration product, Striate+, in Singapore. This approval complements existing clearances in the US, Europe/UK, Australia, New Zealand, and Canada.
Sales Growth and Market Opportunity
Striate+ is experiencing sales growth in major markets, contributing to a global market opportunity valued at over AU$1 billion. Positive feedback from dental surgeons and a 98.6% success rate in post-market clinical studies have driven high adoption rates.
Executive Comments
Paul Anderson, CEO and MD of Orthocell, stated, “We are delighted to receive Singaporean regulatory approval for Striate+ in this important regional gateway market. This approval provides additional validation of Orthocell’s high-quality products, manufacturing processes, and quality systems. Moreover, it enhances our ability to drive revenue growth as our distribution partner expands into global markets.”
Financial Position
The company maintains a strong balance sheet with approximately AU$33 million in cash at bank, ensuring it is well-funded to expand its commercial footprint and grow revenues in existing and new markets.
Future Expansion
Orthocell is collaborating with BioHorizons to accelerate its expansion into additional large markets, including Brazil, with regulatory approval expected within the next 3-6 months.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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