Shares of SCIENTECH (02291) surged more than 18% in the morning session.

As of the latest update, the stock was up 16.49% to HK$13.07, with a trading turnover of approximately HK$50.09 million.

The significant price movement follows news that the company's self-developed MemoSorb® biodegradable atrial septal defect (ASD) and ventricular septal defect (VSD) occluders have received medical device market approval in Saudi Arabia.

This development comes just a few months after the company's biodegradable patent foramen ovale (PFO) occluder and transcatheter aortic valve replacement (TAVR) system were granted Saudi market approval back in April.

Saudi Arabia represents one of the largest healthcare markets in the Middle East, and approval from its regulatory authority is widely recognized across the Gulf Cooperation Council (GCC) and surrounding regional markets for its stringent standards.

This latest approval marks the comprehensive entry of SCIENTECH's structural heart disease portfolio, centered on its MemoSorb® PFO/ASD/VSD occluder matrix and ScienCrown® TAVR system, into the Middle Eastern market.

Securing this authoritative overseas regulatory recognition establishes a solid foundation for the company's subsequent clinical applications in the region and its mission to serve a greater number of cardiovascular patients worldwide.