AVITA Medical Announces Exclusive Distribution Agreement to Expand to Australia and New Zealand
AVITA Medical (NASDAQ: RCEL) has signed an exclusive distribution agreement with Revolution Surgical Pty to expand into the Australian and New Zealand markets. The agreement covers the distribution of the RECELL® product platform, including RECELL GO® (pending regulatory approval). This strategic partnership represents RECELL's return to Australia, where the technology was originally developed, and aims to enhance product availability and accessibility in these regions.
AVITA Medical (NASDAQ: RCEL) ha firmato un accordo di distribuzione esclusivo con Revolution Surgical Pty per espandersi nei mercati australiano e neozelandese. L'accordo riguarda la distribuzione della piattaforma di prodotti RECELL®, incluso RECELL GO® (in attesa di approvazione normativa). Questa partnership strategica rappresenta il ritorno di RECELL in Australia, dove la tecnologia è stata originariamente sviluppata, e mira a migliorare la disponibilità e l'accessibilità dei prodotti in queste regioni.
AVITA Medical (NASDAQ: RCEL) ha firmado un acuerdo de distribución exclusivo con Revolution Surgical Pty para expandirse en los mercados de Australia y Nueva Zelanda. El acuerdo abarca la distribución de la plataforma de productos RECELL®, incluyendo RECELL GO® (pendiente de aprobación regulatoria). Esta asociación estratégica representa el regreso de RECELL a Australia, donde la tecnología fue desarrollada originalmente, y tiene como objetivo mejorar la disponibilidad y accesibilidad del producto en estas regiones.
AVITA Medical (NASDAQ: RCEL)는 Revolution Surgical Pty와 호주 및 뉴질랜드 시장으로의 확장을 위한 독점 유통 계약을 체결했습니다. 이 계약은 RECELL® 제품 플랫폼의 유통을 포함하며, RECELL GO® (규제 승인 대기 중)도 포함됩니다. 이 전략적 파트너십은 RECELL이 원래 기술이 개발된 호주로 돌아오는 것을 의미하며, 이 지역에서 제품의 가용성과 접근성을 향상시키는 것을 목표로 합니다.
AVITA Medical (NASDAQ: RCEL) a signé un accord de distribution exclusif avec Revolution Surgical Pty pour s'étendre sur les marchés australien et néo-zélandais. L'accord concerne la distribution de la plateforme de produits RECELL®, y compris RECELL GO® (en attente d'approbation réglementaire). Ce partenariat stratégique représente le retour de RECELL en Australie, où la technologie a été initialement développée, et vise à améliorer la disponibilité et l'accessibilité des produits dans ces régions.
AVITA Medical (NASDAQ: RCEL) hat einen exklusiven Vertriebsvertrag mit Revolution Surgical Pty unterzeichnet, um in die Märkte von Australien und Neuseeland zu expandieren. Der Vertrag umfasst den Vertrieb der RECELL® Produktplattform, einschließlich RECELL GO® (in Erwartung der genehmigung durch die Behörde). Diese strategische Partnerschaft stellt die Rückkehr von RECELL nach Australien dar, wo die Technologie ursprünglich entwickelt wurde, und zielt darauf ab, die Produktverfügbarkeit und -zugänglichkeit in diesen Regionen zu verbessern.
- Strategic expansion into new markets (Australia and New Zealand)
- Exclusive distribution agreement secures market position
- Return to original market indicates product maturity and success in US
- RECELL GO® still pending regulatory approval in the region
Insights
The exclusive distribution agreement with Revolution Surgical represents a strategic market expansion opportunity for AVITA Medical. The Australian and New Zealand healthcare markets, while smaller than the U.S., offer significant potential due to their advanced healthcare systems and high per-capita healthcare spending. The RECELL platform's return to its country of origin provides several advantages: established brand recognition, existing regulatory framework familiarity and potential cost efficiencies in distribution.
The pending RECELL GO regulatory approval suggests a phased market entry approach. Historical data shows medical device companies typically achieve
VALENCIA, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- AVITA Medical, Inc. (NASDAQ: RCEL, ASX: AVH), a company specializing in commercial-stage regenerative medicine and pioneering devices for wound care management and skin restoration, today announced it has entered into an exclusive distribution agreement with Revolution Surgical Pty Ltd. This agreement marks an important milestone in our expansion into the Australian and New Zealand markets.
Under the terms of the agreement, Revolution Surgical will serve as the exclusive distributor of the RECELL® product platform, including RECELL GO® (pending regulatory approval), in Australia and New Zealand. This partnership aims to enhance the availability and accessibility of AVITA Medical's products to a broader customer base in these regions.
"Our collaboration with Revolution Surgical marks the return of RECELL to Australia," said Jim Corbett, Chief Executive Officer of AVITA Medical. "Originally developed in Australia, RECELL has since revolutionized burn care in the U.S. This agreement reintroduces our innovative technology to its place of origin and further demonstrates our commitment to improving patient outcomes, now in Australia and New Zealand."
About AVITA Medical, Inc.
AVITA Medical® is a commercial-stage regenerative medicine company transforming the standard of care in wound care management and skin restoration with innovative devices. At the forefront of our platform is the RECELL® System, approved by the U.S. Food and Drug Administration for the treatment of thermal burn wounds and full-thickness skin defects, and for repigmentation of stable depigmented vitiligo lesions. RECELL harnesses the regenerative properties of a patient’s own skin to create Spray-On Skin™ Cells, delivering a transformative solution at the point-of-care. This breakthrough technology serves as the catalyst for a new treatment paradigm enabling improved clinical outcomes. In the United States, AVITA Medical also holds the exclusive rights to market, sell, and distribute PermeaDerm®, a biosynthetic wound matrix, and Cohealyx™, an AVITA Medical-branded collagen-based dermal matrix.
In international markets, the RECELL System is approved to promote skin healing in a wide range of applications including burns, full-thickness skin defects, and vitiligo. The RECELL System is TGA-registered in Australia, has received CE mark approval in Europe, and has PMDA approval in Japan.
To learn more, visit www.avitamedical.com.
About Revolution Surgical
Revolution Surgical Pty Ltd is a leading medical device distributor in Australia and New Zealand, specializing in the marketing and sale of innovative medical solutions. For over a decade, Revolution Surgical has formed the gateway between cutting-edge global MedTech and Oceania Healthcare. Their mission is to deliver niche products that innovate and redefine their therapeutic area, ensuring the best possible support for practitioners to deliver unrivalled care to their patients.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements generally may be identified by the use of words such as “anticipate,” “expect,” “intend,” “could,” “would,” “may,” “will,” “believe,” “continue,” “estimate,” “look forward,” “forecast,” “goal,” “target,” “project,” “outlook,” “guidance,” “future,” and similar words or expressions, and the use of future dates. Forward-looking statements include, but are not limited to, statements relating to the timing and realization of regulatory approvals of our products; physician acceptance, endorsement, and use of our products; failure to achieve the anticipated benefits from approval of our products; the effect of regulatory actions; product liability claims; risks associated with international operations and expansion; and other business effects, including the effects of industry, as well as other economic or political conditions outside of the Company’s control. These statements are made as of the date of this release, and the Company undertakes no obligation to publicly update or revise any of these statements, except as required by law. For additional information and other important factors that may cause actual results to differ materially from forward-looking statements, please see the “Risk Factors” section of the Company’s latest Annual Report on Form 10-K and other publicly available filings for a discussion of these and other risks and uncertainties.
Authorized for release by the Chief Financial Officer of AVITA Medical, Inc.
FAQ
What is AVITA Medical's (RCEL) new distribution agreement for Australia and New Zealand?
When did AVITA Medical (RCEL) announce its expansion to Australia and New Zealand?
Which company will distribute RECELL products for AVITA Medical (RCEL) in Australia and New Zealand?
Is RECELL GO® approved for distribution in Australia and New Zealand?
