NORTHRIDGE, CA and PERTH, AUSTRALIA and CAMBRIDGE, UNITED KINGDOM -- (Marketwired) -- Jun 22, 2016 -- Avita Medical Ltd (ASX: AVH), (OTCQX: AVMXY), a regenerative medicine company specializing in new treatments for wounds and skin defects, today announced that it will present on its commercial strategy in China at the Global Chinese Financial Forum 23 June 2016 in Shanghai.
More than 100 investors from publicly listed companies, private industrial companies, private equity firms, high net worth individuals, and provincial state-owned enterprises are to attend the event at Shanghai's Shangri-La Hotel in Pudong. Avita Medical CEO Adam Kelliher is scheduled to deliver a 25-minute presentation, titled "Bringing Innovative Regenerative Medicine to China through Distribution Relationships." The annual forum has been running since 2007, and one of its main aims is to connect innovative companies with China's investment community.
"With an aging population, economic growth, a rising middle class, and government support, the country's annual healthcare expenditure is projected to reach US$892 billion by 2018," the organisers explained. "China's government has identified healthcare reform to be an important field, and have introduced policies to encourage private and foreign investments into the healthcare sector. This growth has led to significant opportunities for global life science companies that are focused on developing new pharmaceuticals, medical devices and other products in terms of capital raising and commercialization."
Avita said its attendance was part of its strategic focus on China, where it is CFDA-approved and has had a market presence for five years. The Company in March signed an exclusive distribution deal for China with the country's leading healthcare group, Sinopharm. Avita's sales are focused in several leading hospitals in the main cities of Beijing, Shanghai and Guangzhou, with activities concentrated primarily in the fields of burns, plastics and repigmentation. Avita's devices have been used in leading research, including a randomized trial that showed the approach could regenerate healing in chronic leg ulcers.
"China is a country of real interest for us, from both clinical and commercial perspectives, and so the GCFF conference is very timely," said Avita CEO Adam Kelliher. "Finding the right partners will be vital for us to extend our reach into the Chinese market, where we see massive potential for our devices and our unique approach to healing damaged skin."
ABOUT AVITA MEDICAL LIMITED
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, and a pivotal U.S. approval trial is underway. To learn more, visit www.avitamedical.com.
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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