ADMEDUS LTD Admedus Ltd
ABN 35 088 221 078
ASX ANNOUNCEMENT
First sales of CardioCel® in Middle East and North Africa (MENA)
Admedus anticipates further MENA approvals in 2016
Brisbane, Australia 3 February 2016
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Admedus Limited (ASX: AHZ) today announced that it has achieved its first sales of CardioCel in the Middle East and North African (MENA) region. The initial sales of CardioCel have come through an early access program in Qatar. Admedus anticipates additional sales in other MENA countries in the near future.
"This is a positive step in the continued global launch of CardioCel and adds to growing revenue for Admedus. This first use of CardioCel in Qatar is particularly important, as the MENA region is one of the fastest growing healthcare areas worldwide and this bodes well for future sales," said Admedus CEO, Mr Lee Rodne.
Admedus entered into a partnership in 2015 with Genpharm, a specialty marketing and sales healthcare company, to be its exclusive partner for CardioCel in the MENA region. Leveraging Admedus' existing regulatory approvals outside the region, it is expected that the two companies will work together to produce a number of MENA country product marketing approvals in 2016.
CardioCel, Admedus' lead bio-scaffold product, is used in the repair and reconstruction of cardiovascular defects, including reconstructing heart valves. It is preferred by surgeons due to its strength, elasticity and lack of hardening (calcification) at the site of surgery. Research shows the bio-scaffold has strong regenerative capabilities and incorporates over time in the repaired area to produce a 'normal' heart. To date, several thousand patients have been implanted with the bio-scaffold.
"Cardiovascular and congenital diseases are significant health issues in Qatar and in the MENA region, so this is an important initial use of CardioCel by surgeons there and will have long-reaching positive results for local patients," said Mr Lee Rodne.
CardioCel is on market in Europe, the US, Canada, Malaysia, Hong Kong and Singapore and used in over 135 centres globally.
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Admedus (ASX: AHZ) is a specialist healthcare company. Our focus is on investing in and developing next generation technologies with world class partners, acquiring strategic assets to grow product and service offerings and expanding revenues from our existing, profitable medical sales and distribution business. The company has assets from research & development through clinical development as well as sales, marketing and distribution.
Admedus has commercialised its innovative tissue engineering technology for regenerative medicine in four continents. We also have a major interest in developing the next generation of vaccines with a Brisbane-based research group led by Professor Ian Frazer. The vaccine programmes target disease with significant global potential, such as Herpes and Human Papillomavirus.
Further information on the company can be found on www.admedus.com
CardioCel is a type of cardiovascular bio-scaffold that can be used to repair congenital heart deformities and more complex heart defects. It is used to repair diseased paediatric and adult hearts. These repairs range from routine hole-in-the- heart operations to major vessel outflow tract repairs. The CardioCel scaffold may also be used to repair heart valves. CardioCel has been shown to allow tissue regeneration once implanted. Some researchers postulate that stem cells play an active role in tissue regeneration, suggesting that the product facilitates endogenous stem cells and other cells to regenerate and repair damaged tissue. CardioCel is the Admedus Group's lead regenerative tissue bio-implant used in repairing heart defects, including the repair of heart valves. It is engineered via the Admedus Group's proprietary ADAPT™ tissue engineering process to produce a durable, collagen scaffold with handling properties preferred by surgeons that avoids calcification, while supporting native cell infiltration, growth and differentiation. CardioCel is a registered trademark.
Admedus Ltd. issued this content on 03 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 02 February 2016 22:50:02 UTC
Original Document: http://clients2.weblink.com.au/clients/admedus/article.asp?asx=AHZ&view=6751621
