Regenerative medicine company Orthocell (ASX:OCC) has reported record revenue for the June quarter and year with growth in sales of its medical devices, Striate+ and Remplir.
Managing director Paul Anderson said, “Orthocell has completed a record quarter and a record year of revenue, which is an outstanding effort. These results show the company is on track to being a key global player. I am very pleased with the performance of our distribution partners and the continued increase in product adoption. With a highly respected and experienced Board in place, and with market-leading products, our company is in a strong position to continue to gain commercial traction and drive Remplir, our breakthrough nerve repair device, into global markets.”
Striate+ is used to treat dental bone regeneration. Remplir treats peripheral nerve repair.
Striate+ is distributed globally by BioHorizons Implant Systems, one of the largest global dental implant companies. Remplir is distributed by Device Technologies.
The company reported June quarter revenue of $1.84 million, up 14.4 per cent compared to the previous quarter.
Orthocell said it is on track to record annual revenue in the financial year 2024 of $6.72 million, up 30.40 per cent from the previous year. It said it has $20.6 million in cash to support its growth strategy.