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Biotech company ReNerve (ASX:RNV) has received approval to market its range of nerve repair devices in Bahrain, through its growing relationship with regional partner Union MediScience B.S.C.
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The approval – first achieved through its partnership with Union MediScience – will see ReNerve enter a Middle East and North Africa market valued at more than US$80 million per annum, and which is also experiencing significant (35%) growth.
ReNerve and Union MedScience will work together to commercialise the NervAlign Nerve Cuff in Bahrain, with a view to entering the markets of other countries across the region using data generated from early cases.
This builds on the exclusive distribution partnership already agreed upon by the two companies – announced in December 2024 – in which UnionMediScience was granted the rights to market and sell NervAlign Nerve Cuff in Bahrain, Saudi Arabia, Kuwait, the United Arab Emirates, and Qatar.
Director Dr Julian Chick said the Bahrain approval was an important first step for its goals across the Middle East. “The ReNerve team has done a great job… working with the wonderful people at Union MediScience has been excellent.”
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He added: “We look forward to the commercialisation in Bahrain and further expanding our sales and marketing efforts in the region.”
RNV shares have moved up 9.5% since open, to 11.5cps.
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