PERTH, Australia, Oct. 9, 2019 /PRNewswire/ -- Osteopore, a global bone regeneration technology provider has once again won top prizes at Singapore's prestigious Brands For Good awards ceremony. This year, Osteopore walked away with the Champion for Patent Improving Lives 2019 and Winner for Community 2019 awards.
Established in 2003, Osteopore utilises its proprietary 3D printing process to manufacture customisable bioresorbable 3D scaffolds with biomimetic microstructure to create a cell-friendly environment that facilitates natural bone regeneration.
This year's win marks the second consecutive year the Singapore-based firm has clinched awards at Brands For Good awards ceremony which debuted in 2018. The awards aim to show recognition to businesses that not only make a difference to the community or the world but are also committed to creating a positive impact on people.
Osteopore was among the 43 small-to-medium sized enterprises from countries in the region such as Singapore, Indonesia, Malaysia and Hong Kong competing for 59 Brands for Good awards across four categories spanning across major themes of Workplace, Community, Environment and Patents.
Of the two honours Osteopore won, the Champion for Patent Improving Lives prize is given to brands that have obtained patents that help improve lives while also creating a better workforce or create jobs for the disadvantaged. This category also requires the brands to utilise the patents created to replace inefficient use of resources while creating better access to resources or reduce waste and pollution.
The Winner for Community prize, meanwhile, requires the winners to consider itself as part of the local community and develop their business to create a positive social impact using innovation and/or technology. The companies are also required to give back to the community with a focus on improving the livelihoods of the disadvantaged, while recognising the importance of supporting and empowering local markets.
Osteopore recently listed on the Australian Securities Exchange with an AUS$5.25million IPO. Garnering massive interest, shares closed more than three and a half times their initial public offering price of 20 cents on the first day on the bourse.
Cleared by the US Food and Drug Administration and Europe's CE Marking, the Singaporean company is ahead of most small cap biotech and medtech companies on the ASX, many of whom are either still in clinical trials or attempting to have their products approved by regulatory bodies.
The listing also reconfirms the recognition of the Osteopore's award winning technology developed by engineers, scientists and clinicians including Professor Teoh Swee Hin at Nanyang Technological University (NTU) which has helped more than 20,000 patients so far by the end of 2018.
Osteopore currently has three primary products on the market - Osteoplug, Osteomesh and Patient Specific Implant.