With increasing health awareness across China, medtech company Optiscan (ASX: OIL) is set to increase the exposure of their in vivo microscopic imaging camera which can be thread through the human body for use in cancer detection and surgery.
The increased exposure will come through a freshly inked distribution partnership with biotech company Sinsi Technology which represents a range of international medical companies within the China market. Through the partnership, Sinsi will commence distribution of Optiscan’s ViewnVivo device to China-based scientists and medical researchers, as well as those in Hong Kong and Macau.
“This new agreement further enhances the reach of our innovative technology into an important and significant segment of the global scientific research market,” said Optiscan Managing Director, Professor Camile Farah.
“China represents an excellent growth opportunity for Optiscan’s ViewnVivo® product across a range of research and pre-clinical application areas. This is very exciting for Optiscan and for the many research institutes across the broader Chinese market, that now have access to our innovative and cutting-edge technology platform.
“With the appointment of Sinsi Technology as a new China distributor, Optiscan continues to diversify its revenue stream and cash flow geographically, whilst expanding its potential customer base.”
The ViewnVivo system is Optiscan’s newest generation of their handheld miniaturised confocal endomicroscopes. Being the size of a pen, the microscope can be thread through the skin to deliver real-time, cellular level in vivo imaging in living tissue.
Its flexibility provides multiple 3D imaging angles as well as hands-free functionality via pedal switches.
“After more than 20 years of development, Sinsi has accumulated an extensive customer base in life sciences in Greater China, and is looking forward to assisting Optiscan grow its market share while helping more scientists in China benefit from Optiscan’s ViewnVivo imaging platform,” said Senti Technology General Manager, Yan Wing.
“The Optiscan ViewnVivo system is based on a very distinctive and innovative technology which produces in vivo microscopic imaging of the highest quality, that will undoubtedly increase access to pre-clinical imaging modalities for China based scientists and medical researchers.”
The new distribution agreement comes just two months after Optiscan announced its increased focus towards growth when appointing a new Marketing Manager, Commercial Manager and Finance Manager as Optiscan prepares to increase its commercial product suite. This will soon include their – InVivage product which is an Oral Cancer Surgery and Screening Application which is nearing its FDA application with its final report from their trials being undertaken at Melbourne Dental School due by the end of September 2022.
For the 9 months ended 31 March 2022, Optiscan has reported $754k in customer receipts with net cash outflow of $2.5m. As of the end of March, the Company had $5.9m of cash on hand.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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