Orthocell Ltd (ASX:OCC) is in a trading halt ahead of an announcement in relation to results of a clinical trial for the use of CelGro® for enhancing repair of peripheral nerves.
This halt will remain in place until the beginning of ASX trade on Friday, November 20, or when an announcement is released to the market, whichever occurs earliest.
The company has a market cap of approximately $69.3 million and shares last traded at 37.5 cents.
Results published in tissue journal
Orthocell recently had the positive pre-clinical and clinical results for the use of CelGro® in enhancing repair of critical bone defects published in the highly regarded Tissue Engineering journal.
In conjunction with previous pre-clinical studies published in Biomaterials demonstrating that CelGro dosed with bone growth factors significantly improved the healing of cortical bone, this validates that CelGro is an ideal membrane for Guided Bone Regeneration.
This is not only in oral maxillofacial reconstructive surgery but also in orthopedic applications such as open tibial fractures and incidences of non-union fractures.
Orthocell managing director Paul Anderson said: “We are delighted with the publication of the positive pre-clinical and clinical results indicating CelGro aids in accelerating the repair of difficult to treat critical bone defects.