allied awarded industry’s emerging company of

Brisbane, Australia, 31th October 2013
Allied Healthcare Group (ASX: AHZ) today announced that it is the recipient of the industry’s 2013 Emerging Company of the Year award, which was presented at Ausbiotech’s national conference and award ceremony last night.
The Janssen 2013 Emerging Company of the Year award recognizes a biotechnology or life sciences company that has demonstrated a significant achievement or achievements during the year with reference to commercial deals, advancement of product pipeline, intellectual property, company strategy or revenue.
“We are very proud and excited to receive industry recognition that highlights the strong progress that our company has made, particularly over the last 12 months. With growing revenues, bringing our lead regenerative tissue product CardioCel® to market in Europe and initiating the Group’s Phase 1 study for its lead vaccine targeting a treatment for Herpes, it has been a very exciting year” stated Mr Lee Rodne, CEO of Allied Healthcare Group.
“We would like to thank Janssen, the organisers and sponsors for this event and also thank all of our staff for their focus and commitment in achieving our major milestones”.
Allied Healthcare Group’s major achievements for the past year include:
- Growing revenues to $7.4 million, with the Company also being awarded a 5-year contract worth over $2 million to implement our leading edge infusion management systems into a Queensland Hospital.
- European marketing approval (CE Mark) for the group’s lead regenerative tissue product CardioCel® to treat and repair heart defects including reconstructing heart valves in both paediatric and adult patients.
- CardioCel® granted early access at key centers in Australia, allowing cardiac surgeons to repair congenital heart defects. Fourteen heart surgeons have now been approved to use CardioCel in paediatrics and adults via this scheme and have completed over 75 successful open heart procedures using CardioCel®.
- Lodged our FDA 510(k) marketing application for CardioCel® and expect US marketing approval in the first half of 2014.
- In November 2012, the Company announced that CardioCel® showed superiority over autologous tissue in a heart valve repair model. The results showed that heart valves repaired with CardioCel® tissue did not calcify while facilitating strong regeneration around the valve tissue. The heart valve study data was presented by a leading cardiothoracic surgeon at the American Association for Thoracic Surgery (AATS) Heart Valve conclave meeting in New York City in May 2013