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OSTEOPORE LIMITED — Capital/Financing Update 2020
Nov 22, 2020
65512_rns_2020-11-22_e70a6a07-9f7c-49b2-8bb4-16cbf2c09542.pdf
Capital/Financing Update
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ASX RELEASE│OSTEOPORE LIMITED
OSTEOPORE SIGNS GERMANY & AUSTRIA DISTRIBUTION AGREEMENT
23 November 2020: Osteopore Limited (ASX: OSX) (“Osteopore” or the “Company”), a revenue generating bone healing biotechnology company, has signed an exclusive Distribution Agreement with MTG Medizintechnik Göhl (“MTG” or the “Distributor”) to promote and sell Osteopore products within the German and Austrian markets.
Osteopore has long standing relationships with the German market in the fields of collaborative research and clinical development. These partnerships were forged throughout the development of the Osteopore technology, most notably with the Company’s first paediatric patient specific skull reconstruction in a 11-year-old around 2008 at the Munich University Hospital. Osteopore products were also used for a tibia replacement procedure in 2009 and an adult patient specific skull reconstruction in a 65-year-old in 2012 at the Klinikum rechts der Isar, der Technischen Universität München (TUM), Germany.
Under the terms of the exclusive distribution agreement, MTG will market Osteopore’s range of products for craniofacial procedures, as well as patient specific implants. Osteopore products Osteoplug, Osteoplug-C and Osteomesh already have European regulatory approval which enables MTG to immediately begin efforts to engage with doctors and all hospitals.
The terms of the Agreement do not contain binding minimum sales thresholds, and the Company is not in a position to forecast sales revenue arising from the sale of Osteopore products from this distribution agreement at this point in time. The two-year agreement contains standard termination provisions including termination in the event of insolvency, change of control, or breach by the distributor, and the agreement can be terminated by either party on 60 days’ notice. The Agreement also contains such other terms that are standard in commercial distribution agreements of this type.
Osteopore will work closely with MTG to provide training and support sales representatives to facilitate ongoing promotion to surgeons across Germany to the targeted segments. MTG has nationwide sales and clinical support coverage with developed and recognised expertise for the promotion of current and future Osteopore pipeline products.
Osteopore Chief Executive Officer Khoon Seng Goh stated, “We are pleased that after over 12 years of clinical cooperation with German surgeons and researchers, we can now provide Osteopore products for wider use in German hospitals and treat German patients.”.
This announcement has been approved for release by the Board of Osteopore.
For more information please contact:
| Geoff Pocock | Carl Runde |
|---|---|
| Executive Director | Chief Financial Officer |
| Osteopore Limited | Osteopore Limited |
| +61 4 1219 4373 | +61 400 118 017 |
| [email protected] | [email protected] |
Osteopore Limited (ACN 630 538 957)│ASX:OSX│16 Ord Street, West Perth│+618 9482 0500│www.osteopore.com
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About Osteopore Ltd
Osteopore Ltd, an Australian ASX listed company (OSX) with R&D and manufacturing in Singapore, is the global leader in the manufacture of innovative regenerative implants at commercial scale. By combining biomimetic tissue science with proprietary 3D printing and materials technology, Osteopore produces medical implants to meet the needs of both tissue and bone reconstruction as well as restoration. These bioresorbable implants provide a scaffold for bone regeneration, dissolving predictably over time to leave only natural bone tissue. In collaboration with clinicians and researchers, Osteopore develops and manufactures implants that address unmet clinical needs which improve patient outcomes, enhances lives, and reduces healthcare costs. For more information, visit us at www.osteopore.com
About MTG Medizintechnik Göhl
MTG is one of Germany’s leading distributor company and the founder Mr. Charly Göhl has been in the medical device industry for 28 years. The company is specialized in products for the neurosurgery field and had distributed products for Medtronic, Kirwan International (USA) and Raumedic (EU).
MTG is ISO 9001 certified as Distributor of Medical products and Surgical instruments. MTG is part of a group of companies under Neuro-Competence group which includes manufacturing of surgical consumables for neurosurgery applications and affiliates in Austria and Poland.
Forward Looking Statements
Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of Osteopore Limited, are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.
Osteopore Limited (ACN 630 538 957)│ASX:OSX│16 Ord Street, West Perth│+618 9482 0500│www.osteopore.com