Orthocell has signed Memorandum of Understanding to increase its equity stake in Marine Biomedical – from 1.7% to 12.0% for a total consideration of AU$1.0 million – securing exclusive first right of refusal over global distribution rights their groundbreaking bone substitute product, PearlBoneā¢.Ā
Developed using sustainably sourced pearl shells from the West Australian Kimberley coast, PearlBone is an innovative, next-generation biomaterial with promising applications in bone repair and regeneration in the orthopaedic, trauma and reconstructive surgery market.Ā Ā
Marine Biomedical is well advanced in its path to US regulatory approval of PearlBone, nearing completion of its pivotal study designed to support a U.S. FDA 510(k) marketing submission in 1Q CY26 to commercially distribute PearlBone into the US$1.6 billion bone substitute market.Ā
Orthocell Chair, John Van Der Wielen, said:Ā Ā
āThis partnership delivers exactly what we look for ā breakthrough science, a clear regulatory path, and immediate commercial synergy. With our strong surgeon relationships and global distribution channels, we are ideally positioned to bring this first-in-class product to market. Marine Biomedical has had significant grant support from the Western Australian Government and has been working for many years on the development of this product.āĀ