Biocomposites announces year of record sales and company growth

Biocomposites announces year of record sales and company growth

Winner of two Queen’s Awards for Enterprise in Innovation and International Trade

Highest year-on-year sales growth in the company’s 25-year history

Keele, UK, 14 December 2022 – Biocomposites, an international medical devices company that engineers, manufactures and markets world leading products for use in infection management in bone and soft tissue, is celebrating its 25th anniversary in a year that has seen the company deliver its highest year-on-year sales growth and receive two prestigious Queen’s Awards for Enterprise.

Queen’s Awards recognise Biocomposites for Enterprise in Innovation and International Trade

On 28 September 2022, Mr Ian Dudson CBE, HM Lord-Lieutenant of Staffordshire visited Biocomposites’ headquarters to present the team with two Queen’s Awards for Enterprise, recognising the company’s excellence in Innovation and International Trade - one of only seven organisations nationally to achieve two Queen’s Awards in 2022.

The awards recognised Biocomposites’ innovative development of STIMULAN® Rapid Cure as a product suitable as a carrier for substances such as antibiotics directly to a site of infection, as well as the company’s outstanding continuous growth in overseas sales which have increased by more than 200% in 40 countries over the last six years.

Record-breaking sales growth driven by new products, expanded distribution and deeper penetration in foot & ankle and spine

In March 2022, Biocomposites announced an exclusive, multi-year partnership with global medical technology leader, Zimmer Biomet (NYSE and SIX: ZBH), for the distribution of genex® Bone Graft Substitute in the US orthopaedic market. Used and valued by surgeons in over 30 countries, genex was specially upgraded with a new closed-mixing system and comprehensive set of delivery options for Zimmer Biomet.

Biocomposites expanded its reach further in Asia by signing distribution agreements for Malaysia, Singapore, Thailand and Vietnam. Significant investment was also made in India, with the team quadrupling in size and extending its focus into helping surgeons with complex trauma and diabetic foot infections. In Germany, the company invested in a new Sales Manager for Northern Europe to take the benefit of STIMULAN to new surgeons in new geographies.

In November 2022, STIMULAN received a new broad-based approval as an antibiotic carrier for use in bone and soft tissue in Mexico. The approval authorises the use of STIMULAN as a carrier of substances such as antibiotics that are chosen by the surgeon as part of their infection treatment strategy. The new approval adds Mexico to a growing list of countries where STIMULAN is approved to carry antibiotics in bone and soft tissue. The list already includes the UK, EU, Canada and Saudi Arabia, with Canada also approved to assist in wound healing and treating bacterial infection in soft tissue surrounding bone.

Biocomposites continued its focus on specialties beyond orthopaedics and hosted a symposium at this year’s annual Wounds UK Conference in November 2022 entitled ‘Managing infection: A new paradigm’. The symposium was led by members of a consensus group of multidisciplinary clinicians including Prof. Paul Chadwick, Martin Arissol and Andrew Sharpe that supported a recent article published in The Diabetic Foot Journal: ‘Local antibiotic delivery: early intervention in infection management strategy’ - which recommended the use of STIMULAN as part of the treatment pathway.

Commenting on Biocomposites’ outstanding progress this year, Michael Harris, Chief Executive Officer, said: “2022 has been a standout year for the company. We have achieved our best-ever results and made excellent progress with our strategic imperatives, expanding into new markets and specialities, and investing in R&D. Along with growing and strengthening our team, we are well placed to meet future challenges and deliver on our growth aspirations.”