Orthocell, a regenerative medicine company based in Australia, has marked a significant achievement with the launch of its Striate+ product in Canada. This follows the product’s regulatory approval from Health Canada in early July, allowing for a swift transition from approval to sales in this key market.
Striate+ is a specialized collagen membrane designed to enhance dental procedures involving guided bone and tissue regeneration. It aims to improve clinical outcomes by serving as a robust barrier that facilitates the regeneration of both bone and soft tissue around dental implants.
The product has quickly gained recognition, having been approved for use in multiple regions, including the USA, Australia, New Zealand, Europe, and the United Kingdom, in addition to Canada. It is exclusively distributed by BioHorizons Implant Systems Inc., one of the largest dental implant companies globally. BioHorizons has rapidly converted regulatory approvals into sales, demonstrating strong market acceptance for Striate+.
The Canadian dental market is valued at approximately $60 million, while the global market potential for Striate+ exceeds $1 billion. The strong sales momentum in existing markets can be attributed to BioHorizons’ extensive marketing and medical education initiatives, which have effectively communicated the benefits of Striate+ to clinicians. The product boasts an impressive 98.6% success rate in post-market clinical studies, further solidifying its reputation.
Looking ahead, Orthocell and BioHorizons plan to pursue additional regulatory approvals, targeting markets such as Brazil and Singapore within the next six to twelve months. This strategic partnership has already resulted in substantial revenue growth for Orthocell, with quarterly revenues increasing and a record annual total revenue of $6.76 million for FY24, reflecting a 30.76% increase from the previous year.
“Sales commencement in Canada validates Orthocell’s expanding global presence,” said Paul Anderson, CEO of Orthocell.
He noted that BioHorizons has effectively transitioned from regulatory approval to initial sales, reaffirming the high quality of their product and partnership. Once approvals in Singapore and Brazil are secured, Striate+ will be available for guided bone and tissue repair in seven major markets.
In addition to Striate+, Orthocell is advancing the global rollout of its other product, Remplir, a collagen wrap designed for peripheral nerve repair. Remplir has already received approval in Australia and New Zealand and is gaining popularity among surgeons. Distributed by Device Technologies, Remplir was launched in Australia in November 2022. Orthocell anticipates regulatory approval for Remplir in Singapore within six months and expects to receive clearance from the U.S. FDA within nine months.