Reva Medical (ASX:RVA) said this week that it inked four new distribution agreements, bringing its commercial operations to seven European countries.
The San Diego, Calif.-based company said the deals serve to expand the reach of its drug-eluting bioresorbable scaffold, Fantom Encore.
Reva said it landed deals with the following companies: A care a.s. in the Czech Republic and Slovakia, Polimed in Poland, Technoproject in Russia and Danmeda in Lithuania, Estonia and Latvia.
Combined, these countries represent a $290 million medical device market, according to Reva, with more than 350,000 percutaneous coronary intervention procedures performed each year.
“These new distribution partnerships deliver on our commitment to expand geographic access to Fantom Encore,” CEO Reggie Groves said in prepared remarks. “These partners were selected based on their proven track records and their local knowledge of the coronary and peripheral interventions markets. We expect that they will add to the commercial momentum that we have already seen with Fantom Encore.”
Reva said it plans to kick off commercialization in each region over the next three to 12 months, contingent upon local approval.
