BioGen Therapeutics Co., Ltd. said on 22 February that the company has developed a disposable autologous cartilage repair system, RevoCart, which has been switched from distribution to direct sales since the second half of last year. In addition, from the second half of the year onwards, RevoCart will also have the opportunity to enter the Vietnam, Malaysia and Hainan International Medical Tourism Pilot Zone.

The main product, RevoCart, is a disposable autologous cartilage repair system, which can take a small amount of cartilage from the non-load-bearing area of the joint, chop it up, activate it with enzymes, and then implant it into the joint with a specially designed carrier to regenerate cartilage cells without the need for secondary surgery. The product has been certified as a Class III medical material in Taiwan in 2020 and is currently in the process of preparing clinical documentation for the US market.

According to BioGen, the product was originally sold by an agent in Taiwan, but the company took back the sales rights in the second half of last year, which led to a reduction in the pricing from NT$400,000 to NT$250,000, resulting in a significant increase in market acceptance. In terms of overseas business, BioGen in the process of applying for approval for Vietnam, Malaysia and the Hainan area, and aims to obtain market approval for these three places in the second half of this year, which will lead to greater sales growth from next year.

In addition, the antibiotic "Minocycline" developed by BioGen will be approved to market in the fourth quarter of 2020, with the indication of fighting multi-resistant bacteria. In terms of profitability, as there are still products in development, the earliest that BioGen can achieve a single quarterly profit is the second half of next year.