Proactive's Tylah Tully gives us Just the Facts about Orthocell Ltd (ASX:OCC, OTC:ORHHF)'s latest ASX announcement.
Orthocell has officially entered the Canadian market with the first sales of its Striate+™ product, facilitated by its distribution partner, BioHorizons. This follows Health Canada's regulatory approval received in July 2024. Striate+ is used in dental-guided bone and tissue regeneration and has already gained traction in other major markets, including the US, UK, EU, and Australia.
The Canadian market for Striate+ is estimated to be worth AU$60 million, contributing to the global market potential, which exceeds AU$1 billion. Orthocell stated that these initial sales in Canada confirm the company’s expanding global presence and the effectiveness of its partnership with BioHorizons, supported by a 98.6% success rate in post-market clinical studies.
The company is also preparing to expand into Brazil and Singapore, with regulatory approvals expected within the next 6-12 months. Financially, Orthocell recorded a strong performance in the 2024 financial year, with revenue of AU$6.76 million, reflecting a 30% year-on-year increase.