C3 gets nod for entry into European market
Friday, 09 January, 2004
Perth company Clinical Cell Culture (C3) has received approval for its CellSpray and CellSpray XP products in Germany and Austria, paving the way for entry into the European market.
The products are manufactured in Europe on contract by C3's production partner Cambrex Bio Science Verviers, a subsidiary of US-based Cambrex.
C3 CEO Troels Jordansen said that targeting the European market first would allow C3 to bring revenues on-line sooner than if a USA regulatory strategy had been pursued as an initial primary market.
The company is now waiting for the Belgium Health Authority to issue an updated GMP manufacturing certificate for the products, which is expected this quarter. Jordansen said the time would be used to build the customer base and launch marketing activities targeting the 36 burns centres in the two countries.
At the time of writing, the share price of C3 (ASX:CCE) had risen nine per cent to AUD$0.425.
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