Osteopore (ASX: OSX), a bone healing biotech, has signed an exclusive two-year agreement with medical device distributor MTG Medizintechnik Göhl to promote and sell its products in Germany and Austria.
Under the terms of the agreement, MTG will market Osteopore’s product line for craniofacial procedures, as well as patient-specific implants.
The company’s Osteoplug, Osteoplug-C and Osteomesh products already have European regulatory approval, allowing MTG to immediately begin efforts to collaborate with doctors and hospitals in the region.
Osteopore will work closely with MTG to provide training and support sales representatives to facilitate ongoing promotion to surgeons across Germany in targeted segments.
MTG has already established nationwide sales and clinical support coverage with expertise developed to promote current and future Osteopore products.
The terms of today’s deal do not contain binding minimum sales thresholds.
Osteopore CEO Khoon Seng Goh said the deal is an important milestone, although the company is unable to forecast sales revenue from product sales at this point.
“We are pleased that after more than 12 years of clinical cooperation with German surgeons and researchers, we can now provide [our] products for wider use in German hospitals for the treatment of local patients, ”he said.
Osteopore has established relationships with the German market in the areas of collaborative research and clinical development.
Many of these partnerships were forged during the development stages of the company’s medical implants, which combine biomimetic tissue science with proprietary 3D printing and materials technology.
Bioabsorbable implants provide a “scaffold” to aid in tissue and bone reconstruction as well as restoration, and dissolve over time to leave only natural bone tissue.
More specifically, Osteopore enabled the first specific skull reconstruction of a pediatric patient on an 11-year-old child at the Munich University Hospital in 2008.
The company’s products were also used for a tibia replacement procedure in 2009 and a specific skull reconstruction of an adult patient in a 65-year-old man in 2012 at the Klinikum rechts der Isar, der Technischen Universität München.
Despite the persistent challenges associated with the COVID-19 pandemic, Osteopore reported strong sales growth for the three months ending in September.
Revenue for the quarter reached $ 407,878, which is an increase of 40% over the previous corresponding period and underscoring continued demand for medical implants despite continued disruption in the healthcare industry.
Revenue brings total Osteopore sales for the year to date to over $ 1.01 million.
Distribution agreement in the United States
In July, Osteopore entered into an agreement with California cranial bone fixation specialist Bioplate Inc to promote and sell its products in the United States.
The agreement provides Osteopore with an established network of healthcare professionals, hospitals and services, as well as the sales and customer support needed to gain traction in this market.
Since then, Bioplate has started marketing the Osteopore range in California, Texas, Wyoming, Ohio, Arizona, Indiana and Puerto Rico.
The company said it will sign additional business partnerships to distribute products in U.S. regions not covered by the Bioplate deal.
Also in July, Osteopore signed an exclusive license option for new 3D printed modular bone implantation technology under development at the Queensland University of Technology (QUT).
The technology complements current Osteopore bone regeneration products and has shown early success with regrowth of long bone defects in patients who have lost more than six centimeters of bone due to injury or disease .
QUT and Osteopore will initially collaborate on the generation of clinical data to support and facilitate regulatory submission to the Therapeutic Goods Administration, the US Food and Drug Administration and European regulators.
The parties will work to reduce the risks associated with the technology before assessing the potential opportunity to acquire the technology by Osteopore.
If successful, Osteopore will have the option of obtaining exclusive marketing rights through another technology license agreement.
In September, Osteopore signed a research collaboration agreement with the Department of Surgery at Yong Loo Lin School of Medicine at the National University of Singapore and the National University Hospital.
The partnership will examine the potential of Osteopore’s 3D printed implants for use in mandibular reconstruction and gather adequate data for future regulatory submissions.