AVITA Medical Announces Exclusive Distribution Agreement to Expand to Australia and New Zealand

VALENCIA, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- AVITA Medical, Inc. (NASDAQ: RCEL, ASX: AVH), a company specializing in commercial-stage regenerative medicine and pioneering devices for wound care management and skin restoration, today announced it has entered into an exclusive distribution agreement with Revolution Surgical Pty Ltd. This agreement marks an important milestone in our expansion into the Australian and New Zealand markets.

Under the terms of the agreement, Revolution Surgical will serve as the exclusive distributor of the RECELL^® product platform, including RECELL GO^® (pending regulatory approval), in Australia and New Zealand. This partnership aims to enhance the availability and accessibility of AVITA Medical's products to a broader customer base in these regions.

"Our collaboration with Revolution Surgical marks the return of RECELL to Australia," said Jim Corbett, Chief Executive Officer of AVITA Medical. "Originally developed in Australia, RECELL has since revolutionized burn care in the U.S. This agreement reintroduces our innovative technology to its place of origin and further demonstrates our commitment to improving patient outcomes, now in Australia and New Zealand."

About AVITA Medical, Inc.

AVITA Medical^® is a commercial-stage regenerative medicine company transforming the standard of care in wound care management and skin restoration with innovative devices. At the forefront of our platform is the RECELL^® System, approved by the U.S. Food and Drug Administration for the treatment of thermal burn wounds and full-thickness skin defects, and for repigmentation of stable depigmented vitiligo lesions. RECELL harnesses the regenerative properties of a patient’s own skin to create Spray-On Skin^™ Cells, delivering a transformative solution at the point-of-care. This breakthrough technology serves as the catalyst for a new treatment paradigm enabling improved clinical outcomes. In the United States, AVITA Medical also holds the exclusive rights to market, sell, and distribute PermeaDerm^®, a biosynthetic wound matrix, and Cohealyx^™, an AVITA Medical-branded collagen-based dermal matrix.

In international markets, the RECELL System is approved to promote skin healing in a wide range of applications including burns, full-thickness skin defects, and vitiligo. The RECELL System is TGA-registered in Australia, has received CE mark approval in Europe, and has PMDA approval in Japan.

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About Revolution Surgical

Revolution Surgical Pty Ltd is a leading medical device distributor in Australia and New Zealand, specializing in the marketing and sale of innovative medical solutions. For over a decade, Revolution Surgical has formed the gateway between cutting-edge global MedTech and Oceania Healthcare. Their mission is to deliver niche products that innovate and redefine their therapeutic area, ensuring the best possible support for practitioners to deliver unrivalled care to their patients.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements generally may be identified by the use of words such as “anticipate,” “expect,” “intend,” “could,” “would,” “may,” “will,” “believe,” “continue,” “estimate,” “look forward,” “forecast,” “goal,” “target,” “project,” “outlook,” “guidance,” “future,” and similar words or expressions, and the use of future dates. Forward-looking statements include, but are not limited to, statements relating to the timing and realization of regulatory approvals of our products; physician acceptance, endorsement, and use of our products; failure to achieve the anticipated benefits from approval of our products; the effect of regulatory actions; product liability claims; risks associated with international operations and expansion; and other business effects, including the effects of industry, as well as other economic or political conditions outside of the Company’s control. These statements are made as of the date of this release, and the Company undertakes no obligation to publicly update or revise any of these statements, except as required by law. For additional information and other important factors that may cause actual results to differ materially from forward-looking statements, please see the “Risk Factors” section of the Company’s latest Annual Report on Form 10-K and other publicly available filings for a discussion of these and other risks and uncertainties.

Authorized for release by the Chief Financial Officer of AVITA Medical, Inc.