Tissue Regenix Group Share News (TRX)

(ShareCast News) - Tissue Regenix announced its first step towards the commercialisation of two of its products on Tuesday, through a joint venture agreement with a German tissue bank.The AIM-listed company said it had entered into an agreement with GTM-V to form a venture called GBM-V, a tissue bank based in Rostock, Germany.It also granted non-exclusive licenses to GBM-V for human dCELL heart valves and DermaPure technology, covering the European Union."This is a key agreement for Tissue Regenix, because it is an important step towards establishing dCELL as a truly global brand", said Tissue Regenix CEO Antony Odell."The establishment of this joint venture agreement will ultimately allow European clinicians and patients access to two clinically proven treatments", he added.Human dCELL is a process which decellularises donated tissue patches. Those patches are then used in the DermaPure process.Tissue Regenix said it was the first license granted for dCELL heart valves, with regulatory submissions to German authorities being prepared by GBM-V."We see this joint venture as an exciting opportunity to utilise Tissue Regenix renerative medical technology, and bring to European patients a portfolio of products that have the potential to change the treatment and recovery of many", said GBM-V managing director Dr Frank Peter Nitschke.The company expected the first products under the joint venture to be launched in 2017, subject to regulatore approval, with the group planning to replicate the business model in other markets."We have already begun discussions with a number of potential tissue bank partners in other countries", Odell added.