Ondine Biomedical Inc Announces Corporate and Trading Update

Ondine Biomedical Inc., a leading provider of light-activated antimicrobial technology, reported significant revenue growth and expansion in hospital deployments in its recent update. The company's revenues in 2023 nearly doubled to $1.2 million from $0.6 million in 2022, driven by the increased adoption of its Steriwave® technology in hospitals. By the end of 2023, 16 hospitals had implemented Steriwave®, a substantial rise from six at the end of the previous year. The first quarter of 2024 saw this number grow to 24, marking a 50% increase from the year-end.

The company also noted international progress, particularly in the UK, Spain, and Australia, where new hospitals have begun deploying Steriwave®. For instance, the NHS in England and private sector hospitals such as HCA Healthcare UK have embraced this technology. Spain's Hospital Universitario La Paz and Australia's Mater Hospital in North Sydney are among the notable new international users.

Ondine Biomedical has also been exploring strategic distribution partnerships to bolster its market presence and accelerate global expansion. Furthermore, the company is expanding its applications to the ICU sector and preparing for a Phase 3 clinical trial in the US in collaboration with the FDA and HCA Healthcare. This trial aims to enhance the adoption of Steriwave® in the US market.