Osteopore and SingHealth partner on Global Centre of Excellence

Australian-Singaporean regenerative medicine company Osteopore Limited (ASX: OSX; Osteopore or Company) – a global leader in 3D-printed biomimetic and bioresorbable implants – is delighted to partner with SingHealth, under the auspices of A.L.I.C.E@SGH Campus to establish Osteopore’s first Global Centre of Excellence (GCoE) for customised medical devices.

Highlights

• Osteopore partners with SingHealth, under the auspices of the Alice Lee Innovation Centre of Excellence at Singapore General Hospital Campus (A.L.I.C.E@SGH Campus), to establish Osteopore’s first Global Centre of Excellence (GCoE).
• SingHealth is Singapore’s largest public hospital cluster. SGH is the flagship hospital in SingHealth, with a rich legacy of medical excellence that spans more than 200 years.
• The GCoE enables Osteopore to set up a dedicated workspace at the SGH Campus to co-develop, test, validate, adopt and scale its customised medical device (CMD) globally.
• The global customised medical device market – valued at US$494.1 billion in 2022 – is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.3% from 2023-2029.

Osteopore’s wholly owned Singaporean subsidiary, Osteopore International Pte Ltd, signed the non-exclusive Partnership Agreement with SingHealth on 14 May 2024 which it is expected to conclude in H2 2026 (Partnership Agreement).

The GCoE enables Osteopore to set up a dedicated workspace on SGH Campus to co-develop, test, validate, adopt and scale its customised medical device globally while deepening collaboration with SGH’s clinicians and accelerating adoption.

The GCoE’s strategic location on SGH Campus provides Osteopore with significant benefits including preliminary access to cases, timely design and surgical implantation, and ultimately the platform to improve patient outcomes.

Through the GCoE, Osteopore seeks to demonstrate its capability to offer high-value products that result in high-value care. High-value care improves patient quality of life – while reducing overall healthcare costs such as through mitigating hospital re-admissions.

Enterprise Singapore – a Singapore Government Agency within the Ministry of Trade and Industry – will provide financial support to Osteopore via the Enterprise Development Grant (EDG). The EDG is designed to support Singapore-based companies to kick off new projects, upgrade their businesses, explore growth opportunities, or pursue overseas expansion. This grant covers up to 70% of qualifying costs.

The key terms of the Partnership Agreement are as follows:

• A dedicated work-space and access to shared facilities for clinician engagement and discussion;
• Consultancy support for the GCoE by selected SGH Clinical Experts;
• An option to extend the partnership for an additional 12 months;
• Total partnership fee of S$284,485, payable monthly over 30 months (up to 70% of qualified costs supported by ESG)

In parallel with the SingHealth partnership, Osteopore has appointed three SGH clinicians to  the Company’s Advisory Panel:

1. Associate Professor Andrew Chin, Senior Consultant, Dept of Hand & Reconstruction Microsurgery;
2. Associate Professor Chew Khong Yik, Senior Consultant, Dept of Plastic, Reconstruction and Aesthetic Surgery;
3. Dr Henry Soeharno, Senior Consultant, Dept of Orthopaedic Surgery.

The clinicians will guide the development and testing of a customised medical device framework, using SGH as a clinical reference site, to develop the selection criteria for adoption in potential overseas hospitals based on suitability and legislation.

Commenting on Osteopore’s collaboration with SingHealth, Osteopore’s Chief Executive Officer Dr Yujing Lim, said:

“I’m delighted to solidify Osteopore’s partnership with SingHealth and to cement our presence on the SGH Campus to support the global expansion plans of our customised medical device.

We are looking forward to creating synergies that not only enhance the impact on health but also help to scale our customised medical device within the region around the globe,” said Dr Lim.

The US$494.1 billion (2022) global custom medical device market – of which the Asia-Pacific was the fastest growing market – is expected to grow at a CAGR of 6.3% from 2023-2029. Historically, Osteopore’s customised medical device business has accounted for 10 to 15% of the Company’s revenue.