BBS-Bioactive Bone Substitutes Plc, Company announcement, insider information, 2 November 2023 at 19.30 EET
BBS-Bioactive Bone Substitutes – The company provides an update on the CE marking process related to the approval of the quality system – consultation with the Finnish Medicines Agency to begin on 21 November 2023
BBS-Bioactive Bone Substitutes Plc ("BBS") has been informed by the Notified Body on 2 November 2023 that the final approval of the quality system is expected within approximately one month, which is earlier than was previously estimated (March-May 2024). In addition, the company has already received the quality system certificate from the authorities for advance commenting.
Following the expected approval of the quality system, the product approval is next, part of which is a consultation with the Finnish Medicines Agency. The Notified body has informed the company on 2 November 2023 that the consultation will begin on 21 November 2023. The consultation with Fimea is part of the official CE marking process and the company expects the consultation to take 3-7 months to be completed.
The company's guidance on the overall schedule for CE marking remains unchanged. The Company expects the authorities’ decision on approving the CE marking application during the second quarter of 2024.
The product's journey towards commercialization (updated)
|Product development||Preclinical animal tests||Completed|
|Functionality and efficiency tests||Completed|
|CE marking||Submitting the CE application||Completed|
|Quality system application (updated)||Mostly completed|
|Additional measures||Plan approved|
|Product approval||In process|
|Consultation with the Medicines Agency (updated)||In process|
|Production lines and line certification||Mostly completed|
|CE marking||Expected in Q2/2024|
|Commercialization||Preliminary commercialization||In process|
|Extensive commercialization||In preparation|
Previously published announcements related to the CE marking application
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BBS in brief
BBS -Bioactive Bone Substitutes Plc is a orthobiology company that started its operations in 2003. We have developed a new product for the treatment of complex bone fractures and bone healing issues. Our goal is to provide next-generation medical products for the treatment of bone injuries in orthopedic surgery. In the pharmaceutical industry, the development and research work require perseverance and courage to innovate. We have a track record of over 20 years in this field. Our company is characterized by expertise, innovation, and dedicated employees who are passionate about their work. Our developed product, ARTEBONE®, is in the final stages of product development, and we are seeking the CE marking to enable its commercialization in the EU market. We are based in Oulu with a medical manufacturing facility in Reisjärvi, holding a manufacturing license. The company's headquarters are in Oulu, and we employ 20 people.
BBS has been listed on Nasdaq First North Growth Market Finland since February 2018.
More information: www.bbs-artebone.fi