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Avita Medical (ASX:AVH) - CEO, Dr Michael Perry - The Market Herald
CEO, Dr Michael Perry
Source: CNBC Television
  • Regenerative medicine company Avita Therapeutics (AVH) has teamed up with the Biomedical Advanced Research and Development Authority (BARDA) for its RECELL System
  • RECELL is a device that allows healthcare professionals to produce a suspension of Spray-On Skin Cells using a small sample of the patient's own skin
  • BARDA is part of the U.S. Department of Health and Human Services and will use RECELL to build preparedness for public health emergencies
  • Under the agreement, BARDA will purchase, store and deliver RECELL Systems for US$7.6 million (approximately A$10.9 million)
  • Additionally, BARDA will provide further supplemental funding to support the emergency deployment of RECELL systems
  • Delivery of RECELL will commence later on this year
  • Despite this positive news, Avita is down 8.12 per cent on the market this afternoon and is trading for $7.24 per share

Regenerative medicine company Avita Therapeutics (AVH) has teamed up with Biomedical Advanced Research and Development Authority (BARDA) for its RECELL System.

The RECELL System is a device that allows healthcare professionals to produce a suspension of Spray-On Skin Cells using a small sample of the patient's own skin.

BARDA is part of the U.S. Department of Health and Human Services and will use RECELL to build preparedness for public health emergencies.

Under the agreement, BARDA will purchase, store and deliver RECELL Systems for US$7.6 million (approximately A$10.9 million) under a vendor-managed inventory (VMI) plan.

Additionally, BARDA will provide further supplemental funding to support emergency deployment of RECELL systems for the use in mass casualty or other emergency situations.

Delivery of the RECELL Systems will commence later this year.

“We are very pleased to continue collaborating with BARDA to ensure healthcare providers have access to the RECELL System to help patients in large-scale emergencies,” Avita CEO Dr Mike Perry said.

“The ongoing preparation from BARDA underscores the importance of public-private partnerships in advancing biomedical innovation to address unmet medical
needs," he added.

Avita's subsidiary, Avita Medical, has had a long-term positive relationship with BARDA.

BARDA's mission is to secure medical countermeasures to save lives in health emergencies.

"Which means we continually work to prepare for any potential threats, whether natural or intentional, that could result in mass injuries. Our nation has to be prepared to treat as many people as possible quickly and effectively," BARDA Acting Director Gary Disbrow explained.

"We look forward to continuing to work with Avita Therapeutics to ensure this technology will be available to medical professionals in an emergency or mass casualty incident," he added.

Despite the positive news, Avita is down 8.12 per cent on the market this afternoon and is trading for $7.24 per share at 1:10 pm AEST.


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