ReNerve inks Mexican deal for nerve repair product NervAlign
ReNerve enters partnership with Imbiomex to progress its NervAlign nerve cuff regulatory approval and launch in Mexico.
ReNerve partners with Imbiomex to advance NervAlign approval and launch in Mexico
Mexican market for nerve-repair biomaterials is valued at US$74 million annually
The deal is latest for ReNerve as it looks to expand global footprint beyond US market
Special Report: Nerve-repair company ReNerve has inked an exclusive distribution partnership agreement with Imbiomex to progress its NervAlign nerve cuff in Mexico.
ReNerve (ASX:RNV) and Imbiomex have now started the regulatory application process to achieve market approval for NervAlign in Mexico.
ReNerve said following approval Imbiomex will market and sell the product in Mexico, where the nerve-repair biomaterials market is ~US$74 million annually and growing at a rate of 17% each year.
With support from Imbiomex, Mexico provides a strong opportunity for ReNerve to expand into Latin America.
The company’s trademarked NervAlign is a cuff to prevent scarring and inflammation when a nerve is being fixed.
The product has been specifically designed to protect a nerve for two to four months while it’s healing and then be naturally absorbed, so avoiding need for further surgery and potential risk of longer-term issues.
NervAlign was approved by the US Food and Drug Administration (FDA) in 2022 and is commercially available in the US.
Capitalising on growing market
ReNerve is looking to capitalise on the growing global nerve-repair biomaterials market, which was valued at US$1.96 billion in 2024 and is projected to grow at a CAGR of 17.8% to US$6.19 billion by 2031.
In December the company announced it had inked an exclusive distribution partnership in the Middle East with an established supplier – Bahrain-based Union MediScience B.S.C.
Under the deal Union MediScience will sell NervAlign cross five countries in the Middle East including Bahrain, Saudi Arabia, Kuwait, UAE/Dubai and Qatar.
ReNerve CEO Dr Julian Chick said the company was delighted to be partnering with the Imbiomex team to establish a market presence in Mexico as part of its broader global expansion strategy.
“We are especially excited to work with Imbiomex for the Mexican market, given their strong local positioning and in-depth understanding of the biomaterials and surgical markets, including the peripheral nerve repair market,” he said.
This article was developed in collaboration with ReNerve, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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