NORTHRIDGE, CA and PERTH, AUSTRALIA and CAMBRIDGE, UNITED KINGDOM -- (Marketwired) -- Jun 07, 2016 -- Avita Medical Limited (ASX: AVH) (OTCQX: AVMXY) has furthered its expansion into the Asian market with the appointment of a specialized wound care distributor for its products in Malaysia.
The Company said it had concluded a deal with Mintcare, which specialises in the distribution of wound care products throughout the Asia-Pacific region. Avita Medical said Mintcare would first focus on Malaysia in its marketing of Avita's regenerative medical devices for burns, wounds and skin conditions. Mintcare has a 4-person sales force in the South-east Asian country, where vitiligo alone is reported to affect an estimated 450,000 people(1), chronic wounds some 180,000(2) patients, and large burns annually leave about 1,200(3) Malaysians hospitalized.
Avita Medical's ReCell® technology works through the rapid delivery of viable cells harvested from a piece of the patient's own skin and is administered by spraying the cells onto the affected area to trigger healing. ReCell® will be launched at an international wound care conference in Sabah, Malaysia in August. Singapore-based Mintcare also has commercial presence in Hong Kong, Indonesia, Philippines, Sri Lanka, Thailand, and Vietnam, and its range includes wound care products that complement Avita's offering.
"The addition of ReCell to the Mintcare product portfolio brings great synergistic opportunities," said Mintcare Director Lamine Guendil. "Mintcare has successfully developed a distribution network in South East Asia specifically in the chronic wound care field, primarily targeting diabetic foot ulcers and venous leg ulcers with topical oxygen therapy. We're confident our many years of experience in this industry and our in-depth knowledge of the local environment and culture, will deliver success to ReCell® in Malaysia."
Avita Medical's CEO, Adam Kelliher, said the deal in Malaysia was another milestone in the Company's strategy to roll-out its regenerative medical devices in key Asian markets. In recent months, the Company has announced distribution agreements with parties in China, Japan and South Korea, and it has been active in Taiwan, where it donated devices following a mass casualty event last summer in a waterpark that left some 500 people burned.
"The deal with Mintcare will give Avita Medical an active presence to deliver our innovative treatments to Malaysia, a market of 30 million people, and further underscores the significance of the broader Asian healthcare market for our company," Kelliher said. "We will keep developing our distributor network in the region so that we are well-placed to address the significant commercial opportunities in Avita."
ABOUT RECELL® AND RES™
ReCell® is Avita Medical's unique proprietary technology that enables a clinician to rapidly create, at point of care in approximately 30 minutes, Regenerative Epithelial Suspension (RES™) using a small sample of the patient's skin. RES™ is an autologous suspension comprising the cells and wound healing factors necessary to regenerate natural, healthy skin. RES™ has a broad range of applications and can be used to restart healing in unresponsive wounds, to repair burns using less donor skin, yet with improved functional and aesthetic outcomes, and to restore pigmentation and improve cosmesis of damaged skin.
ABOUT AVITA MEDICAL LTD
Avita Medical develops and distributes regenerative products for the treatment of a broad range of wounds, scars and skin defects. Avita's patented and proprietary collection and application technology provides innovative treatment solutions derived from a patient's own skin. The company's lead product, ReCell®, is used in the treatment of a wide variety of burns, plastic, reconstructive and cosmetic procedures. ReCell® is patented, CE-marked for Europe, TGA-registered in Australia, and CFDA-cleared in China. In the United States, ReCell® is an investigational device limited by federal law to investigational use. To learn more, visit www.avitamedical.com.
(1) Su-ming Wong et al, 2009
(2) Frost & Sullivan market analysis, 2011
(3) Tam Song et al, 2015
FOR FURTHER INFORMATION Avita Medical Ltd Adam Kelliher Chief Executive Officer Phone: +44 (0) 1763 269 772 [email protected] Avita Medical Ltd Tim Rooney Chief Financial Officer Phone: + 1 (818) 356-9400 [email protected] Avita Medical Ltd Gabriel Chiappini Company Secretary Phone +61(0) 8 9474 7738 [email protected] UK/EU Instinctif Partners Gemma Howe/Sue Charles Phone +44 (0)20 7866 7860 [email protected] USA The Ruth Group David Burke, Investor Relations Kirsten Thomas, Public Relations Phone: +1 (646) 536-7009 / +1 (508) 280-6592 [email protected] / [email protected] Australia Monsoon Communications Dean Felton Investor Relations / PR Phone: +61 3 9620 3333 Mobile: +61 (0) 411 698 499 [email protected]
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