Market Herald logo


Be the first with the news that moves the market
  • Orthocell has climbed 365 per cent in the ASX today after patients completed trialling with CelGro.
  • Patients complete CelGro regeneration trial
  • The reports conducted found 83 per cent of patients muscle repair had improvement

Orthocell has climbed 365 per cent in the ASX today after patients completed trialling with CelGro.

Four patients regained sensations and muscle functions in their affected limbs. The company believes this will give way to repairing severe, nerve damage in hands and upper limbs.

CelGro is a collagen medical device for soft tissue regeneration, manufactured in Western Australia. The company claims CelGro has advantages over existing synthetic tissue repair devices, with better cell compatibility and tensile strength.

Following surgery with CelGro, patients regained muscle functions and sensation for affected limbs, being able to return to their jobs and sports activities.

The trial was a joint effort of Dr Alex O’Beirne of St John of God Subiaco Hospital and Professor Ming Hao Zheng of the University of Western Australia.

O’Beirne says the injuries in the study were so severe, that microsurgery would have been needed without the application of CelGro.

“The surgery can be very complex and difficult, but using CelGro has enabled us to rejoin severed nerves without tension. I am very pleased with the patients’ progress, regaining use of affected limbs faster than I would have expected and they continue to improve,” he said.

Trial patient Daniel Hunt said he suffered his injury from his right shoulder after playing football and had no feeling since in the area.

“I can pick up my kids and I even swam a duo to Rottnest! I might even be able to play footy again next year – something that I thought would never happen,” he said.

The company has received market authorisation for the CelGro product in Europe for dental bone and soft tissue applications.

Today’s announcement compliments other previous results by the company for augmenting repair of the rotator cuff tendon in the shoulder, guiding bone regeneration of the jaw and assisting rejoining damaged peripheral nerves.

Shares opened at 14.20 cents this morning and have since climbed to 53.50 cents each.

As seen below, the company saw a steady decline since August last year before their jump in the ASX today.

Please see the ASX announcement for further details

OCC by the numbers
More From The Market Herald

" PTB Group (ASX:PTB) set to be acquired by PAG Holding Corp

PTB Group (ASX:PTB) is set to be acquired by PAG Holding Corp, after the company entered…
The Market Herald Video

" X2M Connect (ASX:X2M) completes $3.97m entitlement offer

Internet-of-Things technology company X2M Connect (ASX:X2M) has completed its $3.97 million entitlement offer.
The Market Herald Video

" Cleanaway Waste Management (ASX:CWY) to raise $400m to acquire Global Renewables

Cleanaway Waste Management (ASX:CWY) has launched $400 million capital raise program to fund its BluePrint 2030…
The Market Herald Video

" APA Group (ASX:APA) identifies payroll payment errors

APA Group (ASX:APA) has identified payment errors to employees, following an independent review of its of…