Orthocell Ltd (ASX:OCC, OTC:ORHHF) CEO Paul Anderson talked with Proactive’s Tylah Tully about the company’s latest milestone: a distribution agreement with Device Technologies Asia (DTA) to market and distribute its nerve repair product, Remplir, in Singapore.
Anderson emphasised the significance of Singapore as a sophisticated medical market, calling it a "bridgehead" for broader expansion across Asia. He stated, “That combined with the Australian approval for Remplir and now Singapore, really provides us with a good commercial opportunity.”
Orthocell’s nerve repair product aids in restoring function to damaged peripheral nerves. With an estimated global market size of $3.5 billion, Anderson highlighted the strong demand and growing recognition of the product’s value.
The company has more than 160 surgeons in Australia adopting the product across 130 hospitals. It is now poised to enter the Singaporean market and has set its sights on the United States, the largest healthcare market in the world.
Anderson confirmed that Orthocell was on track for its US regulatory submission in the final quarter of this year.
Highlights
- Distribution agreement - Orthocell has partnered with Device Technologies Asia to distribute its nerve repair product, Remplir, in Singapore.
- Market access - Singapore serves as a gateway to the broader Asian market and adds to the product’s existing Australian approval.
- Product overview - Remplir is a collagen wrap that supports peripheral nerve regeneration, addressing a $3.5 billion global market.
- Australian success - More than 160 surgeons and 130 hospitals have adopted the product in Australia following a successful launch.
- US expansion - Orthocell is preparing for a US regulatory submission in the final quarter of 2024, targeting the largest healthcare market globally.
- Financial position - The company is well-funded with $35 million in cash, supporting its expansion strategy.
Singapore expansion
Tylah Tully (TT): I’m joined by Orthocell CEO Paul Anderson who is going to talk to us about the distribution agreement the company signed with Device Technologies Asia to exclusively market and distribute its nerve repair product, Remplir, in Singapore. Paul, thanks for joining us today.
Paul Anderson (PA): Thanks for having me.
TT: So talk to us about this latest distribution deal. How significant is it for Orthocell?
PA: It’s a really important bridgehead market for us. Singapore is a sophisticated medical market, and it provides access not just to the Singaporean market, but to the broader Asian market as well.
That, combined with the Australian approval for Remplir and now Singapore, creates strong commercial opportunities for us. Having Device Technologies appointed as the exclusive distributor really sets us on the pathway to achieving first sales in this jurisdiction.
$3.5 billion market
TT: Can you remind us about your product and the value of the global nerve repair market?
PA: Sure. Peripheral nerve damage is a global issue and we estimate the market is worth $3.5 billion. Our product, Remplir, is a collagen wrap that functions like a Band-Aid, wrapping around a damaged nerve to help it grow more rapidly and predictably.
This restores function to paralysed limbs in a consistent and effective way. It’s a product that’s gaining recognition for its high value in the market.
Global expansion
TT: You’re well-funded with $35 million in cash. Where do you go from here in terms of global expansion?
PA: We recently launched Remplir in Australia and it’s been a spectacular success.
Device Technologies has been an outstanding partner and we now have over 160 surgeons using the product across 130 hospitals in Australia. Building on this success, we’re expanding into Singapore, which is one of the most sophisticated medical markets globally.
We’re also focused on entering the US, the largest healthcare market in the world.
We’re at the pointy end of the submission process for US regulatory approval, which we’ve scheduled for the last quarter of this year.
As a well-capitalised company, we’re well-positioned to drive our product into the hands of top surgeons in the United States.
TT: It’s definitely a very exciting time for the company. We can’t wait to see what the next couple of months have in store. Thanks so much for joining us today.
PA: My pleasure. Thanks for having me.
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