Vericel Corp (NASDAQ:VCEL) recently announced that the U.S. Food and Drug Administration gave a go-ahead to the company for its exclusive cartilage defects treatment. Following the new, the company witnessed a happy show in the shares market as its premarket trade opened on a soaring note. Vericel said that the FDA approved its treatment that is specifically aimed at knee cartilage defects.
The approval from FDA came after SUMMIT study. The study compares Superiority of MACI implant in comparison to Microfracture Treatment among those patients who are suffering from symptomatic articular defects in the knee.
About the approved treatment
Autologous cultured chondrocytes on porcine collagen membrane or MACI is the name of treatment that received FDA’s approval. The company said that MACI uses the concept of tissue engineering to treat the defective knee cartilages in adults. In what can be said as first of its kind, FDA gave its approval to this treatment, which will use the process of cell regeneration or growth on scaffolds with the help of healthy tissues from patient’s other knee. MACI is the cellularized scaffold product and is also the first one that received a green signal from the US federal body.
Will the FDA approval put Vericel on a higher pedestal in the market?
The company said that the nod to MCAI is a significant one because not only will it help the company in achieving significant heights in next year, but will also allow it to further the newer support programs for patients. FDA approval can be seen as an important and revolutionary step for the company, which is at present, looking for expanding its commercial business. This approval will indeed allow the company to be placed at a higher pedestal.
The CEO of company, Nick Colangelo said that FDA approval for MCAI will put the company in a position from where they can take it beyond.
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