Avita Medical, based in the UK, develops and distributes regenerative products, utilizing the patient's own skin, to treat wounds, burns scars, and skin defects. The company's lead regenerative product is ReCell®, already on the market and generating revenues in Europe, Australia, and Asia. In the U.S., FDA trials are currently underway, with FDA submission expected next year. (FDA trial funding has been by the U.S. Department of Defense, to the tune of $3.65 million.)
The goal of Avita's products is to regrow, replace, and restore the function of tissues, organs, and limbs that have been damaged, lost, or are not working due to trauma, disease, or senescence. It's important to note that all tissues and organs, not just skin, are now believed to have the capability to regenerate under the right conditions and applying the right technologies. This represents a fundamental change to the practice of medicine.
ReCell® is Avita's novel Spray-On Skin® point-of-care stem-cell treatment, applicable to a wide range of wounds and dermal defects. It can be used for burns, chronic wounds, plastic and reconstructive surgery, as well as with aesthetic/cosmetic surgery. From a market standpoint, ReCell® has a number of advantages:
• It represents a unique regenerative medicine technology and is patent protected. There is no similar harvesting, processing, and delivery technology for autologous tissue that is commercially available.
• ReCell® offers a rapid, low-cost treatment that minimizes scarring and the risk of infection, has no laboratory requirements, and can be used in combination with other techniques.
• The global market it addresses is vast, representing unmet therapeutic needs.
• Grants, contract, and clinical trial support for the ReCell® technology are provided by the U.S. Department of Defense to validate ReCell's potential. Avita's burns study is the only study conducted by a non-U.S. company to receive such support.
• ReCell® has been embraced by influential surgeons and Centers of Excellence in the UK, France, and Germany.
Avita posted revenues of $4.54 million for the year ending June 30, 2011, with a gross profit of $3.5 million. As of December, 2011, cash on balance stood at $10.9 million, with zero debt.
For additional information, visit the company's Web site at www.AvitaMedical.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html