Orthocell has received a Medical Device Licence from Health Canada, allowing the commencement of sales of its market leading dental guided bone regeneration product, Striate+™, in the key market of Canada.
The Canadian market for Striate+ is estimated to be worth A$60 million and the global market opportunity for these products is estimated to be in excess of A$1 billion.
Orthocell’s distribution partner for Striate+, BioHorizons, is already well established in the Canadian market which will facilitate a fast transition to first sales and revenue generation from this region.
Orthocell Managing Director, Paul Anderson, said:
“Canadian approval for Striate+™ is further validation of Orthocell’s expanding global footprint. Approval in this market complements our FDA approval and strengthens the Company’s position to increase revenue, in collaboration with our valued partner BioHorizons. Additionally, it reaffirms the high quality of our product and world-class, scalable manufacturing process.”
Click here to read the ASX release.