Orthocell Ltd’s (ASX:OCC) CelGro® Dental, which was recently renamed Striate+, has been recommended, ahead of expectations, for inclusion on the Australian Prosthesis List (PL), which paves the way for reimbursement by private insurers.
The PL defines the minimum amount of benefit to be paid by private insurers for CelGro® product used in approved dental bone and soft tissue repair procedures.
Inclusion on the PL may be received by the first quarter of 2021, ahead of the company’s previously reported expectations.
This positions the company on its pathway to secure a global distribution partner.
Significant milestone
Orthocell managing director Paul Anderson said: “Inclusion on the prothesis list is an important step in gaining reimbursement from private insurers for Striate + (previously named CelGro® Dental).
“This is a significant milestone for our company that is made possible by our recent Australian TGA approval and clinical data enabling progression towards reimbursement.”
Notification from Department of Health
The regenerative medicine company received the notification from the Australian Government Department of Health, that the Prosthesis List Advisory Committee has recommended the Minister of Health ratify its inclusion on the PL.
Receiving a recommendation for inclusion on the Prosthesis List follows the Australian market approval for CelGro® collagen medical device in December 2020, for introduction into the Australian dental bone and tissue regeneration market.
CelGro® Dental, based on surgeon feedback, has distinct advantages over other similar products and may assist surgeons to deliver improved patient outcomes through superior handling characteristics, tissue integration qualities and improved bone healing.
Secure distribution partner
With the US, EU and Australian market approval achieved and key opinion leaders (KOLs) actively engaging with the program, Orthocell is well-positioned to secure a distribution partner and establish Striate+ as the best-in-class dental resorbable collagen membrane.