Very positive RNS22 Aug 2018 08:15
"We are on track to meet our key initiatives for the year, including achieving financial performance to bring us in line with market expectations. Our commercial execution plans are on track, including the recently announced signing of new distribution partners in China and new development agreements closed in the first quarter of this year that offset a previously announced specific risk with a Korean customer. ChondroMimetic® is on track for both CE Mark and first-in-man surgery in this financial year, following a successful audit by our notified body regulator this month.
"We are currently in negotiations with multiple distributors in Europe, which we expect to conclude in parallel with the ChondroMimetic® CE Mark. We also recently completed the initial animal studies for our proprietary bone graft product that will support partner discussions at the upcoming North American Spine Society meeting in September. Operationally, our New Zealand restructuring initiative is delivering the expected synergies and benefits, as the assets related to collagen production and R&D have been relocated to the UK and USA respectively with operational setup and validation underway according to plan. The New Zealand team is now fully focused on the tissue business and has already identified several new customer opportunities. Finally, we will continue to deliver more visibility and metrics to our investors relating to the value and progress within our core business."