Broncus Medical (02216.HK) Announces Annual Results for 2023

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Mar 28, 2024, 10:28 ET

The treatment products R&D continue to lead, and product sales are steadily advancing.

HANGZHOU, China, March 28, 2024 /PRNewswire/ -- On March 28, 2024, Broncus Medical (02216.HK) (the "Company" or "we" ) announced annual results for FY 2023.

In 2023, Broncus Medical earned product sales of US$12.41 million, an increase of 32% compared to the previous year. Of which, total revenue from Mainland China was US$8.62 million with a significant increase of 48%.

(i) In terms of clinical and product R&D:

We have completed the follow-up visit to the pivotal clinical trial of Zhiheng RF-II in 2023. The product is the world's first transbronchial interventional treatment product for lung cancer. The results of the clinical trial showed safety and efficacy of RF-II in the treatment of lung cancer in clinical use. And the study data is also used for the license applications for NMPA medical devices.

For the TLD Radiofrequency Ablation System, an innovative device for the treatment of acute exacerbation of COPD, we completed the enrollment of over 40 patients at more than 20 trial sites in the pre-marketing clinical trials in 2023.

(ii) In terms of market access:

In 2023, the domestic version of InterVapor^®, domestic version of Lungpoint and BroncTru™, a disposable transbronchoscopic puncture dilatation catheter, obtained NMPA registration certificates.

For global market, InterVapor^® was successively approved in Thailand, Chinese Taiwan, Malaysia and Indonesia during the period.

(iii) In terms of commercialization:

In Mainland China, InterVapor^® for COPD has been commercialized in more than 20 hospitals. About 100 hospitals have been exposed to the technology with local medical insurance coverage gradually being implemented.

For our navigation products, according to public information, the market share in Mainland China reached 40% in 2023.

For consumable products, such as BroncTru™, the disposable transbronchoscopic puncture dilatation catheter, has been applied in multi-scenarios in diagnosis and treatment of lung diseases.

In the future, we will continue to make efforts to product pricing, cost control and commercialisation to realise a positive growth in product sales.

SOURCE Broncus Holding Corporation