The first evidence of surgery, if you can call it that, dates back to the Neolithic and pre-Classical periods where skull trephining took place. The gruesome practice of cutting small holes in the head was thought to rid the body of spirits and was widely practised throughout Europe, Africa and South America. The Egyptians even used it as a method for treating migraines…
Humans have been interfering with the course of disease for thousands of years, setting broken bones, bloodletting and amputating despite the risk of infection and death.
Fast forward to today and we’ve moved past carving into the heads of our peers to a slightly more sophisticated approach. Medical implants have developed alongside surgery as key tools to enhance patient outcomes.
Putting Neolithic trephiners to shame is Osteopore (ASX: OSX), a regenerative medical implant technology company creating innovative surgical solutions at commercial scale. Their products are designed to facilitate the healing of bone tissue with 3D printed scaffold designs made from bioresorbable material. Osteopore’s patent protected scaffolds are clinically proven to reduce post-surgery complications and issues that commonly arise with permanent bone implants.
The Singapore and Australian based Company is expanding their tech further into Europe with initial orders received from their Spanish distribution partner, Acuña y Fombona S.A. The first shipment of cranial regenerative implants will land in Spain shortly, providing Acuña y Fombona S.A with plenty of product to begin distribution to medical facilities and professionals throughout the country.
In Spain alone, 40,000 surgical cases per year could benefit from the use of Osteopore’s implants. The broad applicability of their product is key to driving uptake amongst surgeons in new markets.
Their range of off-the-shelf products can be used in over 1.1 million craniofacial procedures worldwide, and have outperformed traditional implants due to their ease-of-use and low incidence of postoperative complications. The implants are fully approved in multiple jurisdictions such as the USA, Australia, Europe, India and South Africa with distribution networks being established.
The Company couldn’t have chosen a better time to get the ball rolling with their distribution as more hospitals and surgeons resume elective surgeries after a tumultuous few years.
Executive Chairman of Osteopore, Mark Leong said: “Achieving first sales in Spain is yet another fantastic milestone for the company and displays our team’s ability to execute on our strategy to penetrate new markets. These initial sales are a clear example of the immediate commercial opportunity for Osteopore’s innovative regenerative implants. We are moving rapidly to regain momentum and have a fully dedicated sales team ready to take advantage of a significant backlog of elective surgeries from increased recognition of our superior products as well as a better post COVID market access.”
The December 2021 quarter yielded a 70% increase in revenue to $310,798. The Company reported $4.5 million cash at hand to continue their growth strategy off the back of a return to elective surgeries.