ReNerve secures approval in US$100M Philippines market
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- ReNerve has received registration approval for its NervAlign nerve cuff device in the Philippines.
- The share price was unchanged following the entry into a market serving 115 million people.
- The registration expands the biotech firm's commercial footprint across the Asia-Pacific region.
ReNerve (ASX:RNV) has received marketing approval in the Philippines for its NervAlign nerve cuff device.
The clearance grants access to Southeast Asia's second most populous country, with 115 million residents.
"Securing approval in the Philippines is a significant milestone," said ReNerve CEO Dr Julian Chick.
The company stated the Asia-Pacific nerve repair market is projected to reach US$100 million by 2026.
Following the announcement, the ReNerve share price was unchanged at $0.08.
The approval expands the firm's footprint alongside existing markets in Malaysia, Thailand, Indonesia, and Hong Kong.
High rates of road trauma and diabetes drive local demand for peripheral nerve repair solutions.
