Regenerative medicine company AVITA Medical (ASX:AVH) has entered into an exclusive multi-year distribution agreement with Stedical Scientific to commercialise PermeaDerm Biosynthetic Wound Matrix in the US.
PermeaDerm is cleared by the US FDA as a transparent matrix for treating various wound types until healing is achieved.
Under the terms of the agreement, AVITA Medical will hold the exclusive rights to market, sell, and distribute PermeaDerm products, including any future enhancements or modifications, within the US.
The company said the initial term is five years, with the option to renew for an additional five years, contingent upon meeting certain minimums. The company expects the gross margin from the sale of PermeaDerm to be 50 per cent of the average sales price.
“Our partnership with Stedical Scientific is an important step in expanding our portfolio and addressing the unmet needs of our patients,” said Jim Corbett, CEO of AVITA Medical.
“AVITA Medical and Stedical Scientific are ideal partners given the complementary nature of our products, the overlap of call points, and the strength of our footprint and sales force. We anticipate these synergies will allow us to effectively leverage our established commercial presence, enhancing the integration of PermeaDerm into our portfolio. This strategic collaboration underscores our commitment to delivering innovative solutions and improving outcomes for those we serve.”
PermeaDerm is a biosynthetic matrix that facilitates wound healing while also providing a high level of permeability and biocompatibility. For burn or wound procedures treated with Spray-On Skin Cells from the RECELL System, PermeaDerm can be applied to further aid in healing.
“We are thrilled to mark this important growth milestone with AVITA Medical, who shares our goal of treating millions of patients suffering from a broad spectrum of wounds,” said Lin Sun, the chair of Stedical Scientific.
“AVITA Medical has an established presence in the U.S. wound care market, further validating the clinical and commercial value of PermeaDerm. This collaboration will expand our reach to more patients, physicians, and hospitals with a compelling portfolio of solutions that improve care and surgical performance. We look forward to a long and successful partnership.”
