Renerve (ASX:RNV) has secured its first commercial sale of the EmpliQ amniotic tissue range, advancing its mission to improve peripheral nerve injury recovery through cutting-edge wound healing solutions, according to a Tuesday filing with the Australian bourse.
The company's EmpliQ range includes three products that accelerate wound healing with growth factors and cytokines, complementing its NervAlign nerve repair products and addressing wounds from surgical sites to diabetic ulcers, per the filing.
The company also established a strategic partnership with Berkeley Biologics to broaden its range of deep dermal and amniotic tissue products, the filing said.
The peripheral nerve repair market is estimated to be worth around $1.6 billion with a growth rate of 17%, while the global dermal and amniotic tissue market is projected to reach around $2.7 billion in 2024, expanding at a 12% compound annual growth rate, the filing added.