Orthocell's expansion into Canadian market

Regenerative medicine company Orthocell Limited (ASX:OCC) has achieved a significant milestone with its exclusive global distribution partner BioHorizons recording the first sales of Striate+TM in Canada. The rapid conversion from regulatory approval to sales in the Canadian market follows the recent approval from Health Canada in early July. Striate+TM is now available for use in dental guided bone and tissue regeneration procedures in Canada.

Orthocell Managing Director's perspective

Orthocell Managing Director, Paul Anderson, expressed, 'Commencement of sales in Canada is further validation of Orthocell's expanding global footprint. Our valued partner BioHorizons has executed a rapid transition from approval to first sales, reaffirming the high-quality nature of our product and partnership. Once Singapore and Brazil applications are approved, Striate+ will be available for use in guided bone and tissue repair in seven large and attractive markets. And we will continue to accelerate approvals in what is a significant AU$1 billion annual global market.'

Summary of market expansion and revenue growth

The first sales of Striate+TM in Canada mark a significant step in Orthocell's global market expansion, with the company's exclusive distribution partner BioHorizons demonstrating rapid conversion from regulatory approval to revenue generation. The Canadian market alone is estimated to be worth AU$60 million, contributing to the global market opportunity for Striate+ estimated to be in excess of AU$1 billion. With a strong revenue traction in existing markets and anticipated regulatory approvals in Brazil and Singapore within 6-12 months, Orthocell is well-positioned for further growth. The company's record revenue of $6.76m in FY24, up 30.76% YoY, reflects the strong uptake of its products in respective markets, indicating a promising outlook for Orthocell's global market expansion and revenue generation.