Avita Medical Limited (ASX: AVH) is a publicly traded global medical technology company trading on the Australian Stock Exchange. It develops, distributes and commercializes regenerative medicine products.
Avita Medical Limited (ASX: AVH) is a publicly traded global medical technology company trading on the Australian Stock Exchange. It develops, distributes and commercializes regenerative medicine products.
Avita’s clinically tested, tissue-engineered product, ReCell, provides revolutionary solutions utilizing the patient’s own skin and the regenerative capability of the human body to treat a wide range of wounds, scars and skin defects. Most recently, the company has announced the product’s proven ability to treat chronic leg ulcers.
ReCell is a spray-on, stand-alone rapid cell harvesting device, which enables surgeons to treat skin defects using the patient’s own cells. The product allows for the surgeon to prepare a small quantity of cells within 30 minutes on site. The metabolic cells, then migrate across the surface of the wound, creating regenerative skin of normal color and texture. ReCell has been designed for use in a wide variety of burns, plastic, reconstructive and cosmetic procedures. It can replace the current technique of skin grafting.
According to a presentation given by Dr Giuliano Magi, M.D., and colleagues, “Autologous transplantation of epidermal cells is difficult to treat ulcers of the lower limbs.” Out of 10 patients whom were suffering from unhealed chronic ulcers, 1 was lost due to an unrelated incident, 8 achieved 100% healing and 1 achieved 90% re-epithelialization after a 4 week period.
Dr. Magi stated, “ReCell has demonstrated a very high success rate in the treatment of chronic leg ulcers. Although we have only a limited sample size, the outcomes in these recalcitrant ulcers are clinically outstanding and cost-effective for the healthcare system. Furthermore patients report an immediate decrease in pain and are resuming normal activities straight after the ReCell procedure making it more acceptable to the patients themselves.”
Treating chronic leg ulcers alone is a market estimated at $1 billion. More thank 3,500 patients have been treated with ReCell for injuries such as, burns, hypo and hyper-pigmentation, scarring and wrinkle removal. Over the last year, revenues have increased 29%, and sales have increased about 150%. Management expects this trend to continue, with regenerative products contributing an increasing proportion of sales revenues.
“Sales of our ReCell Spray‐On‐Skin regenerative product have shown strong growth, not only year‐to‐year and quarter‐to‐quarter but also in consecutive quarters,” said William Dolphin, Ph.D., CEO of Avita Medical. “ReCell is an easy-to-use bedside kit that is now available to clinicians in Australia, France, Germany, Portugal, Russia, The Netherlands and the United Kingdom.”
In addition to regenerative treatments, Avita also commercializes medical technologies for improved medication delivery and adherence in patients suffering from chronic respiratory diseases.
Avita Medical Limited will be presenting its products and technologies at OneMedForum SF 2012, on January 9 – 12.