Following its appointment of former Deputy Prime Minister Kim Beazley and as part of its board renewal, Orthocell Ltd (ASX:OCC, OTC:ORHHF) will say goodbye to board member Matthew Callahan, who was instrumental in the company’s early success.
Following these two latest moves, OCC now has five directors, comprising four non-executive directors and one executive director.
The refresh positions OCC’s highly experienced board, along with OCC’s management team, to grow product sales alongside its distribution partners, BioHorizons and Device Technologies.
The company will also place a strong focus on its balance sheet, while executing its US market access program and commercialisation strategy for its breakthrough nerve repair medical device, Remplir™
Global commercialisation plan
Beazley’s appointment, along with the recent appointment of chairman John Van Der Wielen, and highly credentialed independent non-executive director, Professor Fiona Wood AM, is part of a new leadership focus that will place high emphasis on OCC’s global commercialisation and revenue growth.
The company aims to grow its world-class regenerative medicine product portfolio, which Callahan has played a major role in.
“Matt’s commitment and contributions to the success of Orthocell in the early phase of the company and as it transitioned from an R&D company to a commercial success is commendable and greatly appreciated,” Van Der Wielen said.
“Matt was pivotal to the initial public offer and greatly assisted the company through first-in-human trials and successful commercialisation of our initial products in international markets.”
Orthocell specialises in regenerative medicine, aiming to restore mobility for patients by developing solutions for various bone and soft tissue injuries.
The company's product range includes the CelGro™ platform, a series of collagen medical devices designed for tissue reconstruction and healing in dental and orthopaedic reconstructive applications.
Striate+™, Orthocell's first product approved for dental Guided Bone Regeneration (GBR) applications, has received clearance for use in the United States (FDA 510k), Australia (ARTG) and Europe (CE Mark) and is distributed worldwide by BioHorizons Implant Systems Inc.
Additionally, Orthocell's Remplir™, used for peripheral nerve reconstruction, has recently been approved and granted reimbursement in Australia, with exclusive distribution by Device Technologies in the Australian market. SmrtGraft™, designed for tendon repair, is available in Australia either through the Special Access Scheme or by participating in a clinical trial.
The company is also developing autologous cell therapies aimed at regenerating damaged tendon and cartilage tissue. Currently, Orthocell is expediting the development of its tendon cell therapy in the United States, focusing on technology transfer, scaling up manufacturing, and engaging with the FDA ahead of a planned randomised controlled study under FDA oversight.