Cancer treatment biotech Sirtex Medical wants to expand into China and Japan.
Sirtex Medical's lead product is a targeted radiation therapy for liver cancer, called SIR-Spheres Y-90 resin microspheres.
The microspheres deliver substantial doses of radiation directly to inoperable cancer tumours in the liver.
A major clinical study has shown that the microspheres, when combined with standard chemotherapy, are able to hold back the growth of liver tumours.
"We continue to investigate the expansion of our innovative SIR-Spheres microspheres product into additional markets, including formulating the most appropriate entry strategies for the potentially large markets of China and Japan," Sirtex Medical chief executive Gilman Wong said on Tuesday.
Mr Wong told shareholders at the company's annual general meeting in Sydney that the incidence of primary liver cancer in China was more than 10 times greater than in the United States.
The incidence of colorectal cancer was about double that of the US.
Japan the second largest medical device market in the world, was a high-priced market.
"Both markets therefore represent attractive, long-term opportunities for Sirtex," Mr Wong said.
Sirtex also wants to extend the use of its product outside the liver and into organs such as the kidney.
Sirtex achieved record growth in dose sales of the microspheres in fiscal 2015.
"I am pleased to report that the 2016 financial year has commenced strongly, with global dose sales thus far tracking slightly ahead of our expectations," Mr Wong said.
He said that in September Sirtex sold more than 1,000 doses globally - the first time sales had passed that level in a single month.
Sirtex generated a 69 per cent lift in net profit to $40.3 million in fiscal 2015.
