OCC 9.68% 51.0¢ orthocell limited

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    Contagious company!

    “Orthocell shares quadruple on CelGro nerve regeneration trials in Perth
    Peter WilliamsThe West Australian
    Wednesday, 8 May 2019 2:23PM

    Orthocell managing director Paul Anderson.Picture: WA News
    Shares in Orthocell have exploded after the company announced a successful completion of nerve regeneration clinical trials in Perth.

    Orthocell said the first four patients which trialled its CelGro platform had regained muscle function and/or sensation of affected limbs and returned to regular activities.

    The Murdoch-based company’s shares closed up 41¢, or 357 per cent, to 52.5¢, with $24 million in stock changing hands.

    The patients in the trial had suffered paralysis or impaired use of a hand or arm from an accident and were unable to perform basic activities such as bathing and dressing.

    They reportedly experienced an 83 per cent improvement in muscle power.

    Orthocell said the results indicated CelGro could be used to guide and support nerve regeneration in severely damaged or severed peripheral nerves.

    The trial was undertaken with orthopaedic nerve specialist Alex O’Beirne of St John of God Subiaco Hospital and Ming Hao Zheng, director of research at the University of WA’s Translational Orthopaedic Research Centre.

    Dr O’Beirne said he was pleased with the progress of the patients, who had regained use of affected limbs faster than expected and continued to improve.

    “The nerve injuries suffered by the patients in this study were so severe that they would not have been able to regain normal use of their injured arm and hand without microsurgery,” he said.

    “The surgery can be very complex and difficult, but using CelGro has enabled us to rejoin severed nerves without tension.”

    Orthocell managing director Paul Anderson said the trial was an important step in development of the platform.

    The share surge gave the company a market capitalisation of $63 million.”

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