Bone reconstruction technology company Osteopore is heading for the China market, signing a distribution agreement with Kontour (Xi’an) Medical Technology Co. Ltd to market and sell its products within the People’s Republic.
Kontour is listed on the Shanghai stock exchange and is a leading manufacturer and distributor of surgical supplies across mainland China.
It manufactures neurosurgery products, titanium implants, and skull internal fixation and rib fixation systems.
The companies plan to conduct a number of trials required to achieve National Medical Products Administration approval to allow Osteopore’s products to be sold there.
Kontour have agreed initially to purchase US$500,000 of Osteopore’s products in the first year after receiving NMPA clearance, and US$1 million in the second year.
Osteopore is a leader in bone regeneration, with its bioresorbable implants the first to be successfully developed and commercialised for surgical use.
The implants are made of a bioresorbable polymer that dissolves over time, leaving only natural, healthy bone.
Osteopore executive chairman Mark Leong said: “This is a significant step in our commercialisation strategy, as the large Chinese market will be very important to Osteopore.
“We are laying the necessary groundwork to enter the Chinese market and working with the right partner is essential.”
Leong said the company would enter the China market starting with its craniofacial products.
Osteopore, which is listed in Australia and Singapore, expects the Chinese approval process to take 24 months.
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