Orthocell Ltd (ASX:OCC) has strengthened its cash position by around A$21.46 million (~US$14.774 million), net of fees, in consideration for the recently executed global exclusive licence and distribution agreement with BioHorizons Implant Systems Inc, for its Striate+™ dental membrane used for dental-guided bone and tissue regeneration procedures.
Under this agreement, Orthocell granted BioHorizons, one of the largest dental implant companies in the world, an exclusive licence of two patent families, covering a collagen scaffold for cell growth and a method for producing a collagen membrane, together with associated patent applications, improvements and know-how and the Striate+ trademark.
Striate+ is a market-leading resorbable collagen membrane used in guided bone and tissue regeneration procedures.
Interestingly, clinical studies have shown that Striate+ supported the transition from two-stage to single-stage dental procedures, reducing the procedure time by several months.
Forward plan
Orthocell managing director Paul Anderson said: We are delighted to have received funds from BioHorizons, solidifying our cash position with A$31.23 million on hand as of July 20, enabling us to drive the further development of our Remplir™ nerve product and pipeline of regenerative medicine products.”
The company will manufacture and supply BioHorizons with quantities of Striate+ products that embody the licensed IP and grant BioHorizons exclusive distribution rights in respect of those products in the Field.
Striate+ is manufactured by Orthocell at its quality-controlled good manufacturing practices (GMP) licensed facility in WA, using the company’s proprietary SMRTTM manufacturing technology.
About BioHorizons
BioHorizons is part of Henry Schein, Inc, a leading global provider of dental implants and tissue regeneration products for dentists and dental specialists.
The company has a broad product offering, including dental implants, guided surgery, digital restorations and tissue regeneration solutions for the replacement of missing teeth.
Notably, Striate+ will join the list of BioHorizons products are available in 90 markets around the world.