The patent expires in 2029 and provides additional intellectual property (IP) to protect Orthocell’s Autologous Chondrocyte Implantation (Ortho-ACI®) for cartilage repair applications.
The company’s shares were last trading circa 5% higher intra-day, at $0.40.
Ortho-ACI® was recently included on the Australian Register of Therapeutic Goods (ARTG) by the Therapeutic Goods Administration (TGA), enabling commercialisation within Australia.
The international roll out of Ortho-ACI® has been further underpinned by the recent regulatory approval issued by the FDA in the U.S along with approvals in the UK.
Last month, the company received the European regulatory approval (CE Mark) for its CelGro collagen medical device.
CelGro, which is used for a range of dental bone and soft tissue regeneration procedures, can now be marketed and sold within the European Union (EU).
A key advantage of CelGro over other scaffolds is that it integrates with the soft tissue under repair and also degrades at the same rate as the body heals.
The approval provides a strong foundation for the company to progress additional dental regulatory applications in key markets, such as the U.S., Japan and Australia.