Perth-based Orthocell has struck a 25-year licensing and distribution agreement valued at $23.1 million with a major dental implant company.
Perth-based Orthocell has struck a 25-year licensing and distribution agreement valued at $23.1 million with a major dental implant company for its locally manufactured tissue regeneration product.
Orthocell shares lifted more than 30 per cent after announcing it had signed an exclusive agreement with BioHorizons, which it described as one of the largest businesses of its kind globally.
The deal will see Orthocell grant BioHorizon exclusive patent and trademark licence for Striate+, a WA-manufactured dental collagen membrane used for bone and tissue regeneration procedures.
The parties also inked an exclusive supply and distribution agreement for the application to be distributed globally.
“We are delighted to be working with BioHorizons which has established relationships with dentists and dental specialists and a successful track record in driving the market entry of high-quality products,” Mr Anderson said in a statement.
BioHorizons will pay $23.1 million for the licence.
Orthocell gained US regulatory approval for its CelGro collagen scaffold platform, which Striate+ was derived from, in June 2021.
It also received approval from Australia’s Therapeutic Goods Administration.
Orthocell shares were on track to close the trading session up 35 per cent at 3:52pm AEST, to trade at 40 cents.