ReNerve Limited (ASX:RNV) ("ReNerve" or "the Company") is pleased to announce it has signed an exclusive distribution partnership agreement with Imbiomex, a leading Mexican medical device distribution company, in order to progress the NervAlign® Nerve Cuff through regulatory approval and commercial distribution in Mexico.
Highlights
ReNerve partners with Imbiomex to secure regulatory approval and launch the NervAlign® Nerve Cuff in Mexico.
The Mexican nerve repair biomaterials market is valued at USD$74M annually, with a projected 17% growth rate.
This agreement strengthens ReNerve's presence outside the US, as part of its ongoing global expansion strategy, unlocking new opportunities in Latin America.
Commenting on the new partnership, ReNerve CEO, Dr Julian chick, stated: "We are delighted to be partnering with the Imbiomex team to establish a market presence in Mexico, as part of our broader global expansion strategy. We are especially excited to work with Imbiomex for the Mexican market, given their strong local positioning, as well as their in-depth understanding of the biomaterials and surgical markets, including the peripheral nerve repair market."
About the NervAlign® Nerve Cuff
The NervAlign® Nerve Cuff is an advanced bioabsorbable technology designed to protect and support nerve repair during the healing process, typically after peripheral nerve injury surgeries. It is uniquely designed to:
Safeguard repaired nerves while promoting natural regeneration.
Naturally absorbs within six months, leaving only regenerated tissue.
Market Potential in Mexico
Mexico represents a growth opportunity for nerve repair biomaterials. Imbiomex, with over a decade of experience in the biomaterials sector, will import, market, and distribute the NervAlign® Nerve Cuff, ensuring effective market penetration.
Next Steps
Regulatory submission process underway to secure Mexican market approval.
Imbiomex to lead commercialisation efforts upon approval.
Further expansion planned across Latin America as part of ReNerve's growth strategy.
About us:
About ReNerve Limited
ReNerve Limited (ASX:RNV) is a medical device company specialising in advanced nerve repair and regeneration solutions. The Company is focused on commercialising innovative medical devices and tissue-engineering products to address unmet needs in peripheral nerve repair. ReNerve acknowledges AusIndustry's Accelerating Commercialisation program for its support in commercialising the NervAlign® Nerve Cuff.
