Orthocell Ltd (ASX:OCC, OTC:ORHHF) is continuing to expand its international market opportunities with the submission of a regulatory application for its guided bone and tissue repair product, Striate+™ to the Health Services Authority of Singapore.
Approval would allow OCC’s product to be sold on the market through its exclusive distribution partner BioHorizons as the two companies continue to target multiple new large markets.
Striate+ was recently approved in Canada and another regulatory application is pending in Brazil.
Orthocell says the treatment is gaining strong traction and generating growing revenue in the US, Europe, Australia and the UK, with the Striate+ dental implant achieving a 98.6% success rate in a recent post-marketing clinical study.
Global marketing efforts paying off
“We are delighted to announce our regulatory application for Striate+ in Singapore, a key strategic stepping stone into the wider ASEAN market,” Orthocell managing director Paul Anderson said.
“Our global marketing program for Striate+ is really gaining traction and this application is a testament to our team’s continued efforts to make Striate+ available to patients and dental surgeons across the world.
“Once Singapore and Brazil applications are approved, Striate+ will be available for sale for use in guided bone and tissue repair in seven large and attractive markets.”
The company says it’s comfortably positioned to pursue its commercial and marketing strategies with a strong balance sheet of $20.6 million and record revenue of $6.72 million in the 2024 financial year, a 30% increase year-on-year.