Orthocell has entered into a binding Formal Agreement with Marine Biomedical, increasing its equity interest from 1.72% to 11.7% for a total investment of AU$1.05 million.
As part of the transaction, Orthocell has secured a first right of refusal over global distribution rights for PearlBone™, Marine Biomedical’s bone regeneration technology, and any future bone repair and regeneration products.
PearlBone is an innovative, next-generation bone substitute product developed using sustainably sourced pearl shells from the West Australian Kimberley coast. The product has highly promising applications in bone repair and regeneration across the orthopaedic, trauma and reconstructive surgery markets.
Marine Biomedical is progressing toward U.S. regulatory approval and commercialisation of PearlBone, with a pivotal study nearing completion to support a U.S. FDA 510(k) submission by March 2026, positioning the product for potential entry into the US$1.6 billion global bone substitute market.
Orthocell Chair, John Van Der Wielen, said:
“This partnership adds further value to Orthocell’s strategy by introducing a leading bone regeneration product that can be sold alongside Orthocell’s market-leading collagen device. PearlBone strengthens our biologically driven portfolio and positions Orthocell as a multi-product company spanning bone, nerve, and tendon repair.
“This investment is sensibly timed for shareholders, given the impending FDA application, and we believe Marine Biomedical has the potential to become a large and successful biotechnology company in its own right.”