PolyNovo (ASX:PNV) has announced the approval of NovoSorb BTM by the Taiwan FDA for sale in Taiwan.
PolyNovo said it has also contracted with Evermed, a Taiwan based distributor to sell BTM.
Taiwan has an advanced health system and has a population of circa 23 million concentrated in three regions.
The dermal matrix market in Taiwan has good potential for us in reconstructive surgery, trauma and burns.
In order to start selling, Evermed needs to lodge reimbursement data with the health authority, typically a three-month process, to achieve billing codes for use by the hospitals.
First sales are anticipated by March 2021.
Shares in PolyNovo (ASX:PNV) are trading almost 4 per cent higher at $2.62.