Regenerative medicine company Orthocell Ltd (ASX:OCC, OTC:ORHHF) has appointed Device Technologies Asia (DT Asia) as the exclusive distributor for its market-leading nerve repair device, Remplir™, in Singapore.
International expansion
This marks the first major international expansion of Remplir outside Australia and New Zealand, where the device has seen rapid adoption and sales growth since its launch.
It’s also on the back of Remplir’s recent regulatory approval by Singapore’s Health Sciences Authority, which opens the door for first sales in the first quarter of 2025.
The company is committed to accelerating revenue generation in high-potential markets while establishing Remplir as a leading solution in the US$3.5 billion global nerve repair market.
Orthocell CEO and MD Paul Anderson said: “Device Technologies Asia is a leading supplier of innovative medical solutions to hospitals and healthcare professionals throughout Singapore and South East Asia.
“We are delighted to extend our very successful distribution partnership with Device Technologies in Australia and New Zealand into Singapore.
“They have a proven track record in successfully driving the market entry of high-quality products with specialist capabilities and resources, and in the marketing, promotion and distribution of Remplir™.
Strategic medical hub
“We are very much looking forward to working with DT Asia to establish Remplir as the highest quality nerve repair device in Singapore. We expect revenue growth and surgeon adoption of Remplir to accelerate from market launch in Q1 CY25.”
Singapore’s status as a strategic hub for advanced medical treatments and a regulatory gateway to ASEAN markets makes it a critical milestone in Orthocell’s global growth strategy.
DT Asia will leverage its strong local presence and established relationships with plastic reconstructive and orthopaedic surgeons to drive market penetration, supported by targeted promotional efforts and medical education initiatives.
Orthocell is well-funded for this expansion, with around A$35 million in cash and no debt.
The company is also progressing regulatory efforts in other key markets, including the United States, Canada, Europe and additional ASEAN countries.
Results from its US market authorisation study and a 510(K) submission are on track for Q4 CY24, with FDA approval expected in early 2025.
Holistic portfolio
DTA managing director Nat McLay said: “I am extremely excited to partner with Orthocell to bring their Australian Made range of peripheral nerve repair devices to plastic and orthopaedic surgeons in Singapore.
“At Device Technologies Asia we believe in investing in innovative technologies as part of a holistic portfolio that provides value to our customers and benefits their patients.
“We look forward to working with the team at Orthocell to improve patient outcomes across the plastic reconstructive and orthopaedic industry.”