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- Next Science (NXS) becomes an accredited durable medical equipment (DME) provider to further effectively advance its new topical collagen products into market
- The company’s new collagen products will complement its BlastX wound gel infection treatment to improve patient outcomes
- As part of its plans, the company will submit its integrated product to the US Food and Drug Administration (FDA) for consideration as a 510(k) application in due course
- Once traction is established, the company expects revenues from the sale of collagen to materialise and gain significant market information
- Shares in Next Science end the day 4.73 per cent in the green to close at 77.5 cents
Next Science (NXS) has become an accredited durable medical equipment (DME) provider to further effectively advance its new topical collagen products into market.
The company’s new collagen products are said to complement its BlastX wound gel infection treatment to improve patient outcomes.
After much investigation, Next Science determined the most efficient and competitive way for a BlastX collagen product has entered the market will be via the DME structure.
It has completed the application process and received full accreditation to operate, and will be reimbursed through US Medicare.
This will allow the company to bill Medicare or Medicaid for the supply of approved products direct to patients and is now also holding a National Provider Identifier with Medicare.
Further, the registration gives Next Science a licence to sell in 40 US states which the company is now reviewing the process for registering in the remaining states.
Currently, it is developing technology to combine BlastX with collagen in both powder and sheet forms which will filly preserve the efficacy of both elements.
As part of its plans, the company will submit its integrated product to the US Food and Drug Administration (FDA) for consideration as a 510(k) application in due course.
Once traction is established, the company expects revenues from the sale of collagen to materialise and gain significant market information.
Also, it expects the anticipation of the new integrated product to motivate physicians to engage with the company early and prepare for it by switching to Next Science as their collagen provider.
Shares in Next Science ended the day 4.73 per cent in the green to close at 77.5 cents.
