Tissue Regenix Group PLC Additional manufacturing capacity secured (1542J)
August 15 2019 - 2:01AM
UK Regulatory
TIDMTRX
RNS Number : 1542J
Tissue Regenix Group PLC
15 August 2019
Tissue Regenix Group plc
Additional manufacturing capacity secured as part of expansion
strategy
Leeds, 15 August 2019 - Tissue Regenix Group (AIM:TRX) ("Tissue
Regenix" or "The Group"), the regenerative medical devices company,
announces that it has signed a 10-year lease agreement on a 21,000
sq. ft. facility to expand processing capacity at its manufacturing
base in San Antonio, Texas. The agreement also includes the option
to purchase the facility at a later date.
The new facility, situated on adjacent land to the Group's
current 13,700 sq. ft. facility, will be brought on stream in a
phased plan to meet the growing commercial demand for the Company's
novel product portfolio. Phase one will commence immediately with
part of the new building being converted into office, distribution
and warehouse space, allowing for additional clean rooms to be
built in the original facility, which are expected to be
operational by the end of H1 2020.
Over time, it is planned for further processing and packaging
clean rooms to be built in the new facility therefore, increasing
the Company's ability to process more tissue and produce products.
The new facility underpins the Company's strategy of building
strategic partnerships, accelerating US market penetration and
pursuing geographic expansion opportunities.
Gareth Jones, Interim CEO of Tissue Regenix Group,
commented:
"I am delighted that we have secured this additional facility to
support our ambitious growth plans. The Group has undertaken a
number of operational initiatives in order to increase production
capabilities and meet the growing market demand for our products.
Having commenced a second shift at the beginning of the year in our
current facility in San Antonio, the phased build out of this new
facility will allow us to meet the growing requirements of our
customers well into the future."
For more Information:
Tissue Regenix Group plc Tel: 0330 430 3073 / 07920272441
Caitlin Pearson, Head of Communications
------------------------------------------ ---------------------------------
Stifel Nicolaus Europe Limited (Nominated Tel: 0207 710 7600
Adviser and Broker)
Jonathan Senior / Alex Price / Ben
Maddison
------------------------------------------ ---------------------------------
FTI Consulting Tel: 0203 727 1000
Brett Pollard / Victoria Foster Mitchell
/ Mary Whittow
========================================== =================================
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(R) ') 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(R)
, 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.
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END
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