Admedus has announced that it has completed the purchase of an established manufacturing site from Genzyme Australia to facilitate increased production of its lead regenerative tissue product CardioCel®.
The site is equipped with fully operational infrastructure that will enable the company to immediately scale-up its production and successfully service the global markets.
Moreover, the site also boasts additional manufacturing facilities to support the development and commercial manufacture of additional tissue products. These products are currently in developing stage and utilize its platform ADAPT® tissue engineering process.
According to the company’s announcement, the transaction to acquire Genzyme Australia was completed on the 31th of December 2013, in accordance to the share purchase agreement.
The company made its first European sale in November 2013 after receiving the CE Mark for launch and marketing of its CardioCel® in August 2013, which has brought forward the need to ramp up production.
CardioCel® is a regenerative tissue product used to repair heart deformities including repairing and reconstructing heart valves. It offers strong levels of regeneration of self-tissue without needing external stem cells or growth factors.
Moreover, unlike other existing tissue products, the ongoing Phase II extension study of CardioCel® has confirmed no signs of calcification in five patients monitored over a five year period post-surgery.
Admedus Ltd. is a diversified healthcare company focused on investing in and developing next generation technologies. The company is in the process of commercializing its innovative tissue engineering technology for regenerative medicine and developing the next generation of vaccines with a Brisbane-based research group led by professor Ian Frazer. The innovative vaccine program targets diseases with global potential such as Herpes and Human Papillomavirus.
Admedus Regen started as a research program in 2001. The lead program, CardioCel®, is a cardiovascular scaffold used to repair paediatric and adult heart deformities, ranging from routine “hole in the heart” operations to major vessel outflow tract repairs. It offers key advantages over other tissue treatment processes on the market, most notably the reduction of calcification post implantation. It also possesses the potential to replace many of the products that surgeons use for soft tissue repair.