Osteopore (ASX:OSX) secures Singaporean-Vietnamese approvals

Osteopore (ASX:OSX) secures Singaporean-Vietnamese approvals

March 27, 2024 Off By Tom Duggan

Osteopore’s share price more than septupled in early trading after the Australian-Singaporean regenerative medicine company announced it had secured market approval for orthopaedic products in both Singapore and Vietnam.

The clearance covers and validates a collection of off-the-shelf treatments for conditions including high tibial osteotomy, bone grafting, and customisable implants required for complicated bone loss.

Procedures for high tibial osteotomy, a surgery realigning the knee joint, more than doubled in Singapore over a scant year in 2021 to 2022, and the global market is expected to continue to grow at a high pace.

Osteopore believes that between bone grafting and other procedures, it presents it a projected opportunity of roughly 400,000 annual procedures using its technology by next year if it can get the required volume to market.

Osteopore CEO Dr Lim Yujing said the company was delighted to share another positive step in its ongoing transformation.

“The orthopaedic market is a high-value and high-volume segment with the HTO market expected to grow at a CAGR of 9.2 per cent,” Dr Lim said.

“These approvals enable Osteopore to supply off-the-shelf and customisable implants, positioning us to capture the potential of these high growth market segments.”

The technology is based around harnessing the human body’s existing capacity to rebuild tissue, using tissue engineering, regenerative medicine and 3D printing to create an implant which naturally breaks down as it is replaced by a patient’s own tissue.

Osteopore’s bioresorbable implant was the first of its kind to be developed and commercialised for surgical use, and its products are already used by surgeons across the world.

But the focus for now is on one of Osteopore’s home bases in Singapore and nearby Vietnam, which are consistently strong performers for the company and a move it believes will leverage existing sales and distribution network to accelerate access to market with more easily managed costs.

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