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Admedus secures regulatory approval in Canada for heart tissue products

The company's shares are trading 4% higher intra-day, at $0.26.

A human heart
Canada is the second market to have access to this technology

Admedus Ltd (ASX:AHZ) has received regulatory approval to introduce its CardioCel 3D® and VascuCel® products in Canada, alongside CardioCel® which is already available.

CardioCel 3D is a shaped tissue product representing a disruptive technology in the high-complexity congenital defect repair space.

WATCH: Admedus Ltd moving up the value chain and preparing for 'pivotal' year

Wayne Paterson, chief executive officer, said: “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.

“This opportunity presents Admedus with a valuable opportunity to move up the value chain and increase our presence and market share in North America.”

Unique product mimics the characteristics of normal human tissue

CardioCel 3D offers patients the long-term health benefits of Admedus’ ADAPT® technology.

ADAPT treated tissue has been proven to more closely mimic the characteristics of normal human tissue which promotes a more tolerant immune response and improved tissue ingrowth.

CardioCel 3D’s pre-shaped curve provides physicians access to an optimised arch reconstruction solution with non-antigenic response and unique calcification resistance.

CardioCel 3D and VascuCel are already sold in the U.S.

CardioCel 3D is the latest product from Admedus’ proprietary ADAPT portfolio and was officially launched in the U.S. on 1 February 2018.

Canada is the second market to have access to this technology.

Admedus’ VascuCel scaffold is also bioengineered using the ADAPT technology and provides enhanced procedural efficiency for a broad spectrum of vascular surgical procedures.

READ: Admedus introduces heart tissue technology to India

The company recently introduced its ADAPT engineered tissue technology to India, a country with circa 50 million cardiac patients and 280,000 babies born annually with a congenital heart defect.

ADAPT achieved sales revenue of $2.1 million for the December 2017 quarter, up 18% on the previous quarter, largely driven by increased sales in the European and emerging markets regions.

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ASX:AHZ
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Admedus CEO in New York to update on recent key milestones

Admedus Ltd (ASX:AHZ) CEO Wayne Paterson visited the Proactive Investors New York studio to update on key milestones the company has achieved in the past few months, including receiving European approval on two of its products.

on 03/17/2019

2 min read