YORK, England, May 5, 2015 /PRNewswire/ --
Tissue Regenix Group plc (AIM:TRX) ("Tissue Regenix" or "the
Group"), the regenerative medical devices company, announces that
TRX Wound Care Inc. has signed a new regional distribution contract
for DermaPure® which is used in the treatment of chronic and acute
wounds.
(Logo:
http://photos.prnewswire.com/prnh/20150505/743321 )
There has been substantial commercial interest in Dermapure®
since Tissue Regenix received notice of Local Coverage
Determination (LCD) from Novitas, as announced on 5 March 2015 and effective from 9 April 2015. Novitas is a Medicare
Administrative Contractor covering US states representing 8.9
million Medicare beneficiaries and is responsible for product
coverage and reimbursement. Novitas is the largest of the eight
reimbursement groups covering Medicare and Medicaid reimbursement
claims in the US.
This major new contract has been signed with an experienced
surgical and wound care distribution network; the contract covers
two of the 12 states that comprise the region covered by the
Novitas reimbursement LCD notice and represents approximately 11%
of the Medicare patients addressed by the notice. The contract is
expected to be worth a minimum of $600k over the next 12 months and provides for
additional areas to be covered by mutual agreement.
Building on the increasing clinical awareness of the outstanding
results being achieved in the US by Dermapure®, Tissue Regenix is
also continuing to deploy its direct sales representatives as part
of its "hybrid" distribution strategy of both direct and indirect
sales representation.
Antony Odell, CEO of Tissue
Regenix, commented:
"Our US team has done an outstanding job in achieving commercial
traction for DermaPure® and signing this regional distribution
agreement. This agreement validates the hard work put in since the
launch of DermaPure® in June 2014, as
well as the remarkable clinical results that we are seeing from the
product."
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.
Contacts:
Tissue Regenix Group Plc:
+44(0)19-0443-5176
Antony Odell
Ian Jefferson
Jefferies International Ltd:
+44(0)20-7029-8000
Simon Hardy
Harry Nicholas
Tulchan Communications:
+44(0)207-353-4200
Tom Buchanan
Victoria Huxster
Matt Low
SOURCE Tissue Regenix Group Plc