Avita Gets AU$2M from US Military to Speed Device Approval

Avita Medical Ltd (ASX: AVH) has been awarded US$1.45 million (AU$2 million) from the US Armed Forces Institute of Regenerative Medicine (AFIRM) to accelerate approval of the company's ReCell Autologous Cell Harvesting device in the US market. The intent of all parties is to make the product available to soldiers and the civilian population in an accelerated timeframe. AFIRM has a special interest in using the most advanced regenerative medicine for its wounded soldiers and recognises Avita's innovative treatment for burns and other skin injuries has the benefits of using the patient's own skin to yield improved and accelerated healing rates, reduced scar formation and reintroduction of pigmentation into the skin. Avita was awarded the grant following a highly competitive approval process. Avita competed against project submissions from over 25 other companies and universities. The award of the AFIRM grant may also accelerate the US FDA approval process for ReCell an important milestone in Avita's commercialisation of ReCell.