As per Avita Medical News release, Avita medical signs distributor contract with Sinopharm, China's biggest healthcare group.
Avita Medical announced in the news release:
Avita Medical Ltd, (ASX: AVH), (OTCQX: AVMXY), a regenerative medicine
company specialising in new Treatments for wounds and skin defects, has signed
an exclusive distribution deal for China with the country’s leading healthcare
group, Sinopharm.
The deal, signed in Beijing on Thursday with Sinopharm’s MedTech subsidiary,
grants exclusive distribution of the Avita range of medical devices, which
rapidly deliver a cellular suspension to trigger healing in burns, chronic
wounds and aesthetic conditions. Avita has been active in the China market for
five years, with sales in the main cities of Beijing, Shanghai and Guangzhou.
Avita’s Focus to date has primarily been in the fields of plastics and
repigmentation, with a presence in several leading hospitals, including Peking
Union Medical College Hospital, Zhongshan University No.1 hospital, Shanghai No
9 Hospital and Beijing Air Force Hospital.
State-owned Sinopharm is the largest medical and healthcare group in the
world’s most populous country. It is involved in distribution, retail sales,
R&D and the manufacture of various healthcarerelated products, generating
sales of RMB 200 billion (US$ 30 billion) in 2014. Sinopharm is the first
Chinese pharmaceutical company to be listed in the Fortune Global 500 list, and
the company is publicly traded on the Hong Kong exchange (Stock code: 01099.
HK).
Avita said it had been drawn towards Sinopharm in part because of the
group’s wide reach, as it has offices in all main Chinese cities, and
representation in 31 of the country’s provinces and regions. The Company said
achieving strong distribution in China was a key goal of its global
commercialization strategy, given the size of the Chinese market, which has
about 3.4 million people hospitalized with burns each year 1 and around 1.4
million afflicted by vitiligo. 2 Outside of these core markets, there was also
great scope for expansion into cosmetic surgery and chronic wounds, the Company
said.
“Sinopharm MedTech have a proven track record of building up strong
recurrent sales of medical devices, and we greatly look forward to supporting
their efforts in growing the China market,” said Avita CEO Adam Kelliher.
“Avita has already done a lot of the hard work in China and now is the time to
build on this and work with a strong partner to address the clear need for our
regenerative medicine products.”
Ms. Qiu Shiru, General Manager of Sinopharm Group Med-Tech’s Beijing office,
said the company viewed ReCell® to be a “significant milestone product in the
field of regenerative medicine, as it not only heals physical wounds, but also
supports mental health. We regard it as a great honor to be the exclusive
distributor of ReCell® in China, as it aligns with our business philosophy of
“Caring for Life, Caring for Health".
Avita Medical will provide clinical support to the Sinopharm MedTech sales
team and extended agent network, to help with interactions with medical
professionals. The Company said the support strategy would also involve backing
new research into Avita’s regenerative medicine approach, given the positive
interactions with Chinese researchers to date. Investigators in Guangzhou last
year delivered the first randomized controlled trial to use the device on
chronic wounds, which showed superior wound closure amongst those treated with
ReCell®
The Chinese distributor deal is the eighth territory to be signed by Avita
in the past three months, as the Company escalates its commercialization
activities and expands its sales footprint.
Here is the link to the news release on Avita website.
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