Orthocell gets Remplir approval for Canada

Shares in Murdoch-based Orthocell rose by 15 per cent early on Wednesday, following news the biotech medical company had received regulatory approval to sell its nerve repair product in Canada.

Wednesday’s market update follows on from Orthocell’s announcement on Monday that it had also got the green light to sell Remplir – a collagen-based wrap – in Thailand.

Paul Anderson-led Orthocell lodged an application with Health Canada back in January and said the granting of its medical device licence was ahead of its expectations timewise.

The company said it is hopeful of beginning sales in Canada later this year.

“We have a focused and effective strategy to grow sales in the key markets around the world, with the bulk of our internal sales, marketing and medical education resources focused on the US, by far the largest addressable market for us,” Mr Anderson said.

“The most efficient way for us to engage with markets outside the US is to use local distributors with existing customer relationships and sales channels. 

“We’re in discussions with parties that we believe will be the right partners for us in Canada. 

“Using this strategy, we’re expecting the recently approved jurisdictions for Remplir to start contributing revenue during the second half of calendar year 2025.”

As of 10.26am AWST, Orthocell shares were up 14 per cent to $1.67.