Last checked at 24 Aug 2020 07:00
Tissue Regenix Group plc
UK distribution partner for OrthoPure® XT
Leeds, UK, 24 August 2020 - Tissue Regenix Group (AIM:TRX) ("Tissue Regenix" or the "Group"), the regenerative medical devices company, announces it has entered into a distribution agreement and secured its first order with a speciality supplier of orthopaedic and biologic products, for the UK distribution of OrthoPure® XT, following its recent CE Mark approval in June 2020.
OrthoPure® XT is a decellularized porcine tendon, developed using the Group's patented dCELL® technology. It was granted CE Mark approval for the reconstruction of knee ligaments to restore knee function and stability.
Under the terms of this UK distribution agreement, the NHS and private healthcare sectors will have access to OrthoPure® XT. The Group will initially focus on commercialisation of OrthoPure® XT in the UK before commencing a gradual roll-out into certain other European countries over time.
The Group has received the first modest order and delivery is expected to take place during Q4 2020. It is expected that demand for this product line will increase in 2021 as additional distribution opportunities are identified.
Gareth Jones, Interim Chief Executive Office of Tissue Regenix Group plc, commented:
"As a specialist supplier of orthopaedic and biologic products to the NHS, we have secured an ideal partner to support the commercialisation of OrthoPure® XT in the UK. We believe OrthoPure® XT has the potential to be a disruptive product in the market for reconstruction of knee ligaments and offers benefits to patients and healthcare providers. The launch of OrthoPure® XT is a key milestone for the Company as we continue to strengthen our product portfolio."
For more Information:
Tissue Regenix Group plc Caitlin Pearson, Head of Communications |
Tel: 0330 430 3073 |
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Stifel Nicolaus Europe Limited (Nominated Adviser and Broker) Ben Maddison / Alex Price | Tel: 0207 710 7600
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FTI Consulting Simon Conway / Victoria Foster Mitchell / Mary Whittow | Tel: 0203 727 1000 |
About Tissue Regenix
Tissue Regenix is a leading medical devices company in the field of regenerative medicine. Tissue Regenix was formed in 2006 when it was spun-out from the University of Leeds, UK. The company's patented decellularisation ('dCELL®') technology removes DNA and other cellular material from animal and human soft tissue leaving an acellular tissue scaffold which is not rejected by the patient's body and can then be used to repair diseased or worn out body parts. Current applications address many critical clinical needs such as sports medicine, heart valve replacement and wound care.
In November 2012 Tissue Regenix Group plc set up a subsidiary company in the United States - 'Tissue Regenix Wound Care Inc.', January 2016 saw the establishment of joint venture GBM-V, a multi- tissue bank based in Rostock, Germany.
In August 2017 Tissue Regenix acquired CellRight Technologies®, a biotech company that specializes in regenerative medicine and is dedicated to the development of innovative osteoinductive and wound care scaffolds that enhance healing opportunities of defects created by trauma and disease. CellRight's human osteobiologics may be used in spine, trauma, general orthopedic, foot & ankle, dental, and sports medicine surgical procedures.