Orthocell Limited entered into an exclusive patent and trademark licence agreement (Licence Agreement) and an exclusive distribution and supply agreement (Distribution Agreement) with Delaware corporation BioHorizons Implant Systems Inc. (BioHorizons). Under this agreement Orthocell will grant BioHorizons an exclusive licence of two patent families, covering a collagen scaffold for cell growth and a method for producing a collagen membrane, together with associated patent applications, improvements and know-how and the Striate+ trademark (together, the Agreements). The Agreements were announced on 27 June 2022.

Orthocell confirmed that the consideration due under the Agreements was paid on time, and all provisions remain in full force and effect. Striate+TM is a market leading resorbable collagen membrane used in guided bone and tissue regeneration procedures. Its uptake is expected to be driven by surgeons' preference for high quality, easy to use devices facilitating better patient outcomes.

Clinical studies 2 have shown Striate+TM supported transition from two-stage to single-stage dental procedures, reducing the procedure time by several months. This is of significant interest to patients and clinicians due to potential improvements in efficiency and efficacy of dental procedures. Orthocell will manufacture and supply BioHorizons with quantities of Striate+TM products that embody the licensed IP and grant BioHorizons exclusive distribution rights in respect of those products in the Field.

Striate+TM is manufactured by Orthocell at its quality-controlled Good Manufacturing Practices (GMP) licensed facility in WA, using the Company's proprietary SMRTTM manufacturing technology. In consideration of the license granted, Orthocell has received in cash AUD 21,461,686 million (USD 14,774,225 million), net of fees.