The agreement gives BTC Health, through its investment company BioImpact Pty Ltd, exclusive rights to distribute NEOLA within Australia, New Zealand, Singapore and select countries in the Pacific, as soon as the regulatory process is in place.
BTC Health (BTC) is an Australian company listed on the Australian Stock Exchange (ticker: BTC). The company has experience in launching and distributing advanced medical technology products in specific markets and a network of neonatologists that will be important in creating early-stage interest and acceptance for NEOLA in a clinical setting, states GPX Medical in its press release.
Read more: Q&A: Hanna Sjöström, CEO, GPX Medical
”We see the Australian market as strategically important as a lot of neonatal research is occurring there and there is a great interest for new innovations. For markets that we are not actively cultivating, our strategy is to sign distributor agreements with established actors that have a good network in place and documented experience of establishing new products in order to begin marketing in good time. With this agreement in place, our time to market in this region will be able to go much faster once we receive a CE marking,” says Hanna Sjöström, CEO of GPX Medical.
Available for sale within 12 months of GPX Medical obtaining a CE mark
Following NEOLA’s CE marking, BTC will apply to the Therapeutic Goods Association (TGA) in Australia and Medsafe in New Zealand for product registration and then begin commercially launching in these markets. In return for exclusive distribution rights BTC will, among other things, invest in studies prior to market launch in order to enable neonatologists to evaluate and test NEOLA in their clinics. BTC expects that NEOLA will be approved and available for sale within 12 months of GPX Medical obtaining a CE mark.
Photo of Hanna Sjöström: Roger Nellsjö
Source: GPX Medical