Diversified healthcare company Allied Healthcare Group Limited
(ASX:AHZ) has reported positive results from its ongoing Phase 2 extension study for regenerative tissue product CardioCel.
The company says updated data from the study shows continued evidence of the long term benefits of CardioCel for patients.
CEO Lee Rodne says the results show the potential of the product in providing a regenerative tissue for the repair and reconstruction of congenital heart disease and heart defects.
Mr Rodne said the results will be used to support ongoing launch activities in Europe by highlighting the long term benefits of the product.
Allied is expecting initial sales of CardioCel in Europe in the coming months, and anticipates US approval of the product in 2014.
Allied Healthcare reported a net loss of $2.4 million in fiscal 2013.
