BARDA awards Avita $53.9 million contract
The ReCell is a single use device that has gained prominence as it has been used in mass casualty events in Bali, Indonesia, and most recently in Taiwan. The device allows medical professionals to generate a regenerative epithelial suspension that can be applied to a burn injury. Early tests have shown that this product can help short-term healing and improves long-term outlooks for victims of these kinds of injuries. With financial support from BARDA, the company aims to apply for Food and Drug Administration (FDA) Premarket approval.
"Securing this contract from a U.S. federal agency is a momentous milestone," Avita CEO Adam Kelliher said. "U.S. authorities have conducted a detailed evaluation of our technology, and this contract further validates the opportunity afforded by our unique regenerative medicine. Further, this deal highlights the importance of preparedness for mass casualties. We look forward to meeting BARDA's criteria for large-scale product delivery."
The initial contract is worth $16.9 million to complete necessary clinical regulations for premarket application. An additional $37 million is possible to continue development and testing in the post market period and for stockpiling operations.