Canada NewsWire
MONTREAL, Sept. 25, 2020
MONTREAL, Sept. 25, 2020 /CNW/ - Ortho Regenerative Technologies Inc. (CSE: ORTH) ("Ortho RTI" or the "Company"), an emerging orthobiologics company, today reported its financial results and highlights for the second quarter of 2021 ended July 31, 2020.
"We are pleased with the significant progress accomplished with our Ortho-R lead program during the quarter. We delivered new and final positive preclinical results confirming overall superior repair in Rotator Cuff Tear ("RCT") and statistically significant superiority to standard of care surgery", said Claude LeDuc, President and CEO of Ortho RTI. "Having now secured a Drug / Biologics combination product designation from the FDA, we can confidently proceed with the filing of our Investigational New Drug regulatory application and finalize preparation activities to start our U.S. Ortho-R RCT clinical trial".
Commenting on the results of the second quarter of 2021, Luc Mainville, Ortho RTI's Senior Vice-President and Chief Financial Officer, said: "We were successful once again in securing the required funds to advance our Ortho-R lead program. With total gross proceeds exceeding $2.6 million from the recent oversubscribed and follow-on private placements, we are now well funded to continue moving ahead with our first Ortho-R human clinical trial preparatory work".
Second Quarter 2021 Ortho-R Program Highlights
Second Quarter 2021 Financial and Other Corporate Highlights
Second Quarter 2021 Subsequent Events
Financial Statements and MD&A
Ortho RTI's financial statements and Management's Discussion and Analysis for the three and six months ended July 31, 2020 are available on SEDAR at www.sedar.com.
About Ortho Regenerative Technologies Inc.
Ortho RTI is an emerging orthobiologics company dedicated to the development of novel therapeutic soft tissue repair technologies to dramatically improve the success rate of orthopedic and sports medicine surgeries. Our proprietary RESTORE technology platform is a proprietary muco-adhesive Chitosan-based biopolymer matrix, specifically designed to deliver biologics such as Platelet-Rich Plasma (PRP) or Bone Marrow Aspirate Concentrate (BMAC), to augment and guide the regeneration of new tissue in various musculoskeletal conditions. Ortho-R, our lead Chitosan-PRP hybrid biologic implant product, is formulated and designed to increase the healing rates of occupational and sports related injuries to tendons, meniscus and ligaments. Other formulations are being developed for cartilage repair, bone void filling and osteoarthritis treatment. The Chitosan-PRP combination ORTHO-R implant can be directly applied into the site of injury by a surgeon during a routine operative procedure without significantly extending the time of the surgery and without further intervention. A multi-site US Ortho-R Rotator Cuff Tear Repair Pilot Phase I/II clinical trial is being planned and organized. In parallel, an FDA IND submission is planned for the fall of 2020. Considering the significant potential of our technology platform, Ortho RTI continues to assess new therapeutic target uses outside of the soft tissue repair field. Further information about Ortho RTI is available on the Company's website at www.orthorti.com and on SEDAR at www.sedar.com. Also follow us on LinkedIn and Twitter.
Forward-Looking Statements
This news release may contain certain forward-looking statements regarding the Company's expectations for future events. Such expectations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could cause actual results to differ include, amongst others, uncertainty as to the final result and other risks. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.
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SOURCE Ortho Regenerative Technologies Inc.
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