Magle Group (Nasdaq Stockholm First North Growth Market: MAGLE) today announces that Embocept® S has received regulatory approval in Argentina. The product is intended for embolisation treatment of inoperable lung and liver tumours. Embocept® S is expected to be launched in Argentina later this quarter by Magle Group’s distribution partner, BONAVIX.
EmboCept® S is a vascular embolic product based on Magle Group’s proprietary polymer technology, DSM® (Degradable Starch Microsphere). It is used as a component of transarterial chemoembolisation therapy (TACE) for inoperable lung and liver tumours, where embolisation is combined with local delivery of chemotherapy. TACE is a non-surgical and minimally invasive procedure, usually performed by an interventional radiologist.
"Latin America represents a commercially attractive geographical market for EmboCept® S, and we welcome the first regulatory approval of our product in this region. An application for market approval has been submitted also in Brazil, and we are looking forward to our local distribution partner’s roll-out of this important contribution to improved treatment of inoperable tumours," said Justin Pierce, CEO of Magle Group.
Magle Group is striving to continuously increase its revenues from existing DSM® products, both through intensified and geographically broadened direct sales activities and in alliances for marketing and distribution. In parallel, the company is pursuing the development of additional DSM® products through carefully balanced investments, with new market launches projected in the coming years.