Biotech company Admedus (ASX: AHZ) will soon be introducing its proprietary suite of products to Canadian consumers.
The company received regulatory approval from regulators this week to market CardioCel 3D and VascuCel, in Canada, alongside its flagship product CardioCel which is already available nationwide.
CardioCel 3D is the latest product from Admedus’ proprietary ADAPT portfolio and was officially launched in the United States on 1 February 2018.
The biotech treatment represents a disruptive method of changing how congenital defects are treated.
According to Admedus, CardioCel 3D offers patients “long-term health benefits” made possible by its “clinically-superior” ADAPT technology.
More specifically, Admedus says that its newly-launched product “optimises arch reconstruction with non-antigenic response and unique calcification resistance.”
According to Admedus, ADAPT is an “engineering process” capable of producing implantable “tissue bio-scaffolds” for a range of cardiovascular applications.
From testing done so far, ADAPT-treated tissue has been scientifically proven to closely mimic the characteristics of normal human tissue which promotes a more tolerant immune response and improved tissue ingrowth.
Admedus says that its bio-scaffolds are capable of achieving “nine years without calcification or degradation” of the underlying tissue. Its findings and in-house testing indicate that ADAPT has the potential for “a product lifespan free from calcification, which could pave the way for physicians to introduce the technology for more applications and a broader age spectrum.
Canada is the third market to have access to this cutting-edge technology and also represents the first executed stage of Admedus’ expansion strategy for its shaped-tissue franchise.
Last month, Admedus representatives told BioWorld MedTech, a prominent online news source for medical technology, that the company is undergoing a turning point whereby it transitions from a small biotech developer into becoming a significant revenue generator with a well-established global presence.
So far, Admedus is marketing its suite of ADAPT products in India, the US and Canada, but expects more regions to become available over time. CardioCel 3D officially launched in India in late January to treat structural or congenital heart disease and defects.
The market in India alone represents a considerable opportunity worth around US$158 billion. Additionally, India’s strong population growth and rising middle-class has meant that there are roughly 50 million cardiac patients and 280,000 babies born annually with congenital heart defects (CHD).
Obtaining regulatory approval in Canada means Admedus now has the capability of marketing its ADAPT portfolio in both Canada and the United States, thereby opening the door for the biotech company to commercialise North America, the largest regional healthcare market globally.
“We welcome today’s announcement and are pleased to be able to expand our product offering in Canada, giving physicians and patients access to the numerous health benefits of our latest clinically-superior technology,” said Wayne Paterson, CEO of Admedus.
“This opportunity presents Admedus with a valuable opportunity to move up the value chain and increase our presence and market share in North America,” he added.