Avita Medical (ASX:AVH) said today it will be entering the Iranian market after inking a distribution deal with Iran-based Teb Sanaat Lotus and its Iranian partner company Zikad International Aesthetics Supplier.
As part of the deal, a dedicated clinic using Avita’s regenerative medical devices will open in Tehran, the company said.
“Using our strong distribution network and distinguished medical contacts, we are confident that we can create a strong demand for Avita’s ReNovaCell and its other regenerative skin healing products in Iran. There is real excitement about this unique approach and how we can deploy it to give better outcomes in these sizable patient groups” Zikad Int’l Aesthetics Supplier’s Aram Mousavi said in a press release.
The initial focus of the center will be on aesthetics, including repigmentation and scar reconstruction. The company said Zikad plans to expand into treatments for burns and chronic wounds in the coming months.
“Using a dedicated clinic is a new approach for Avita, and we believe it will give us real focus to reach this important market. The dedicated ReNovaCell clinic and training center should support the rapid adoption of our skin renewal technology. And when this platform is further rolled out to burns and chronic wounds, we anticipate Iran will become a significant market for Avita,” CEO Adam Kelliher said in prepared remarks.
Avita said its ReCell device was a good fit for the region, which records approximately 150,000 burn sufferers every year – numbers 8 times higher than the average global rate. The company said it will provide clinical support to Zikad’s sales team and extended agent network.
In July, Avita said it raised $9 million in a partially underwritten rights issue for its ReCell device, which is designed to use a patient’s own skin cells to treat burns, chronic wounds and skin defects.
Avita, which has offices in Northridge, Calif., Cambridge, U.K. and Perth, Australia, said it issued nearly 100.2 million new shares in the offering, which closed July 4.
The company said July 10 that it plans to use the funds in part to ramp up its U.S. commercial operations ahead of an expected approval, and on “building commercial traction” in China and Australia, where it’s already on the market.