AHZ 0.00% 13.5¢ admedus ltd

CardioCel® sales growth drives revenue higher

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    Revenues for the group continue to grow with $4.8 million for the half year to December 2014.

    For the three months ending December 2014, the group had total sales of $2.5 million, up 23% from the December 2013 quarter (previous corresponding quarter) and up 10% from the September quarter.

    CardioCel® sales for the first half of the year were around $1 million.

    The company also delivered significant progress with the immunotherapy programs with HVS-2 entering a Phase II study and the HPV heading towards a Phase I/II study

    Admedus is well funded with $9.6 million in cash, and also expects to receive R&D tax rebates this financial year.


    CardioCel® sales expansion

    The number of centres using CardioCel® in both Europe and the US continues to rise.

    Currently, CardioCel® is used in 26 centres in Europe and 23 centres in the US and the Group has continued to expand the market for CardioCel® in the second quarter with Health Canada granting a marketing licence and the company achieving Special Access approval for its use in Singapore.

    Admedus will continue to seek additional approvals in other jurisdictions as part of the global launch of CardioCel®.


    Immunotherapy with Professor Ian Frazer

    In collaboration with Professor Ian Frazer and his team, the company also made significant progress with the immunotherapy vaccine programs.

    During this period, the company announced ethics approval for the HSV-2 Phase II clinical study, which is being initiated, with interim results anticipated towards the end of 2015.

    Admedus also announced the latest HPV pre-clinical data which showed compelling results for the HPV therapeutic vaccine.

    The results showed in the TC-1 model 100% survival and over 87% tumour clearance.

    Having now successfully completed a number of pre-clinical studies with extremely positive results, the team is working to progress the HPV program into clinical studies.


    Analysis

    The number of centres using CardioCel® in both Europe and the US continues to rise and is used in 26 centres in Europe and 23 centres in the U.S. In the second quarter with Health Canada granting a marketing licence and the Company achieving Special Access approval for its use in Singapore the future looks bright for CardioCel®.

    The company is also making significant clinical progress with immunotherapy programs with Professor Ian Frazer’s team, which it will look to commercialise in a pipeline of next generation vaccines.

    Latest HPV pre-clinical data showed compelling results for the HPV therapeutic vaccine with TC-1 model 100% survival and over 87% tumour clearance.

    Having now successfully completed a number of pre-clinical studies with strong results, progression of the HPV programme into clinical studies will be a priority.

    Admedus remains well funded with $9.6 million in cash at the end of December 2014, and also expects to receive R&D tax rebates this financial year.

    http://www.proactiveinvestors.com.a...sales-growth-drives-revenue-higher-60439.html
 
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