Orthocell Ltd (ASX: OCC) shares are catching the eye on Friday.
In morning trade, the ASX All Ords stock is up 9% to $1.32.
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Why is this ASX All Ords stock jumping?
The catalyst for today's strong gain has been the release of a very promising announcement from the regenerative medicine company this morning.
According to the release, the company has achieved a critical milestone in the commercialisation of its Remplir product in the US$1.6 billion US market.
Remplir is a collagen wrap used in nerve repair surgery to improve regeneration of damaged nerves and patient outcomes. The ASX All Ords stock notes that it is supported by robust clinical evidence. This includes recent studies confirming its superiority over standard suture techniques in nerve regeneration, earlier return to function, and higher quality nerve tissue restoration.
What was announced?
This morning, Orthocell revealed that the first successful surgery using the flagship nerve repair product has been completed in the United States.
The procedure was performed overnight at a hospital in Ohio and used Remplir in a surgical procedure to repair a foot nerve injury. The surgery was conducted using product manufactured at Orthocell's facility in Perth, Western Australia.
Management notes that the first use of Remplir in the US follows the product's US FDA 510(k) clearance in April and the subsequent appointment of 14 specialist distributors to drive adoption across key regions.
The ASX All Ords stock's CEO and managing director, Paul Anderson, said:
This first US surgery is a significant milestone for Orthocell and for the roll out of Remplir in the US. It signals the start of our commercial journey in the world's largest healthcare and nerve repair markets, and reflects our commitment to delivering innovative, clinically proven solutions to surgeons and their patients.
A critical first step in the US starts with getting Remplir into surgeons' hands for them to gain familiarity with its key features and benefits in clinical practice. These early cases play an important broader strategic role in building experience and knowledge amongst the surgical community.
The good news is that Anderson appears to believe that this could be the first of many surgeries using Remplir. He adds:
We are confident our efforts in the US are on track to drive material growth in sales of Remplir during the second half of calendar 2025.
Following today's strong gain, the Orthocell share price is now up approximately 250% since this time last year.
To put this into context, this means that a $1,000 investment a year ago would now be worth approximately $3,500.
