Admedus (ASX:AHZ) announced the U.S. launch of a new CardioCel bioscaffold designed for vascular repairs.
The new regenerative tissue scaffold will be a 2cm by 8cm patch specifically designed for carotid endarterectomies and other vascular repair procedures, according to a press release.
Admedus won FDA 510(k) approval for CardioCel in February 2014 with indications for heart defect and vascular repairs (CE Mark approval in the European Union came in August 2013). Admedus said the implant has been successfully used 10 times for vascular repairs in the U.S. The product is made using Admedus’ Adapt tissue engineering platform.
"The new CardioCel product is part of Admedus’ plan to build an Adapt tissue franchise, providing surgeons with a range of products for surgical repairs," Admedus CEO Lee Rodne said in a press release.
Admedus shares closed up 4.2% today at A7.4¢ apiece. The company in April reported revenue growth of 47% to A$2.5 million for the 3 months ended March 31, saying it expanded CardioCel into an additional U.S. 15 centers.
"The Admedus sales team continues to expand the number of centers using CardioCel and this new product size will help to support broader market adoption and momentum in our sales program, which we anticipate will support further revenue growth in the coming year and beyond," Rodne said in a prepared earnings release.