Orthocell Ltd (ASX: OCC) shares are catching the eye again on Tuesday.
In morning trade, the ASX healthcare stock is up 11% to $1.53.
This means that the regenerative medicine company's shares are now up 290% since this time last year.
To put that into context, a $5,000 investment 12 months ago would now be worth almost $20,000 today.
Why is this ASX healthcare stock jumping today?
Investors have been buying the company's shares this morning after it made another big announcement.
According to the release, Singapore's Health Sciences Authority (HSA) has granted regulatory approval for its market leading dental membrane, Striate+. This is for use in guided bone and tissue regeneration applications.
The release notes that approval in Singapore complements existing clearances in the United States, Europe/UK, Australia, New Zealand, and Canada. Management believes it will further support the robust sales growth being delivered from existing markets.
The good news for the ASX healthcare stock is that its global marketing and distribution partner for Striate+, BioHorizons, is already well established in the Singaporean market. This will help facilitate a fast transition to first sales and revenue generation from this region.
What is Striate+?
Striate+ is a sterile, resorbable collagen membrane for use in dental bone and tissue regeneration applications. This includes dental implant procedures.
It is designed to protect the bone defect from ingrowth of gingival tissue, to provide a favourable environment for osteogenesis and to assure reliable formation of high-quality bone.
Management notes that Striate+ is experiencing strong sales growth in existing markets, fuelled by overwhelmingly positive feedback from dental surgeons. It highlights that the product's unique features—such as its ease of use, ability to conform to treatment surfaces, and promotion of more efficient bone growth—have driven high adoption and contributed significantly to its success.
Approval in Singapore is a big win. That's because it is seen as a strategic regulatory market and can be used as a stepping stone to approvals in other ASEAN markets. In addition, Singapore is known for its efficiency, high standards, and state of the art medical facilities. This makes it an important destination for medical treatments and tourism in the region.
Commenting on the news, the ASX healthcare stock's CEO and managing director, Paul Anderson, said:
We are delighted to receive Singaporean regulatory approval for Striate+ in this important regional gateway market. This approval provides additional validation of Orthocell's high-quality products, manufacturing processes, and quality systems. Moreover, it enhances our ability to drive revenue growth as our distribution partner expands into global markets.
