Tissue Regenix Group Regulatory News (TRX)

Tissue Regenix Group plc

Innovative Technology Contract Awarded

DermaPure® Receives Innovative Technology Contract from Vizient, Inc.

Leeds, 01 March 2017 - Tissue Regenix Group (AIM:TRX) ("Tissue Regenix" or "The Group"), the regenerative medical devices company, announces effective from today its wound care product, DermaPure®, has been awarded an Innovative Technology contract from Vizient, Inc., the largest member-owned health care company in the United States.

The contract was based on a recommendation of DermaPure® by hospital representatives who serve on a Vizient member-led council with expertise in this category. Innovative Technology contracts are reserved for technologies that demonstrate an ability to enhance clinical care or patient safety, and those that improve an organization's care delivery and business model.

Antony Odell, CEO, Tissue Regenix Group plc commented: "The approval by Vizient under their Innovative Technology contracting process reinforces Vizient member support for DermaPure®. We look forward to working with Vizient members to bring DermaPure® to the wider patient population."

"Due to the number of products and services being released and marketed as 'innovative', member hospitals find value in the thorough innovative technology review process in place at Vizient to help them identify products worth consideration for use at their own facilities," said Debbie Archer, director of procurement and leader of Vizient's Innovative Technology program for suppliers. "After a full review of DermaPure, Vizient's member council agreed this solution offers unique and incremental benefit over other products available on the market today, and recommended it for an Innovative Technology contract."

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About Tissue Regenix

Tissue Regenix is a leading medical devices company in the field of regenerative medicine. The company's patented decellularisation ('dCELL®') technology removes DNA and other cellular material from animal and human tissue leaving an acellular tissue scaffold which is not rejected by the patient's body which can then be used to repair diseased or worn out body parts. The potential applications of this process are diverse and address many critical clinical needs such as vascular disease, heart valve replacement and knee repair.

 Tissue Regenix was formed in 2006 when it was spun-out from the University of Leeds. The company commercialises academic research conducted by our partners around the World.

 In November 2012 Tissue Regenix Group plc set up a subsidiary company in the United States - 'Tissue Regenix Wound Care Inc.', as part of its commercialisation strategy for its dCELL® technology platform. 

About Vizient

Vizient, Inc. represents the combined strengths of the organizations formerly known as VHA Inc., University HealthSystem Consortium, Novation and MedAssets' Spend and Clinical Resource Management. Since 2003, nearly 2200 new and innovative products and technologies have been submitted through the Vizient Innovative Technology program. Vizient works with member-led councils and task forces to identify and review potentially innovative products. If it is determined that a product is innovative, a contract may be awarded outside of Vizient's competitive bid cycle.