Tissue Regenix Group PLC New collaboration with leading healthcare company (3633M)
May 11 2020 - 2:00AM
UK Regulatory
TIDMTRX
RNS Number : 3633M
Tissue Regenix Group PLC
11 May 2020
This announcement contains inside information
Tissue Regenix Group plc
Tissue Regenix announces new collaboration with a leading global
healthcare company and further distribution agreements
Deals underscore demand for Company's product portfolio
Leeds, 11 May 2020 - Tissue Regenix Group (AIM:TRX) ("Tissue
Regenix" or the "Group" or "Company"), a leading regenerative
medicine company, is pleased to announce that it has entered a new
strategic collaboration for white label manufacturing with a
leading top 10 global healthcare company bringing to market a newly
developed product line.
The manufacturing agreement follows collaboration between the
R&D teams of both companies to develop a new product using one
of the Group's proprietary technology platforms to address
orthopaedic soft tissue repairs. Processing for the product has
begun, and initial orders have been received. Over the next two
years, it is expected that the product will make a material
contribution to the Group's top line revenue growth. This new
product line is complimentary to the other soft tissue products
processed at the San Antonio facility, and due to operational
efficiencies implemented, it is not expected that there will be any
impact on the current processing levels of other product lines.
In addition, during Q1 2020, the Group signed further
distribution agreements with a number of selected partners to
expand the market penetration of its AmnioWorks(R), Matrix OI(R),
and DentalFix(R) brands in areas such as ocular, spinal, and
dental, where there is increasing demand for the differentiated
product lines. To minimise capacity constraints at the San Antonio
facility, the recent distribution agreements target products and
therapeutic areas which are complementary to current processing
activities and diversify the Group's sales portfolio.
Gareth Jones, Interim CEO, Tissue Regenix Group plc,
commented:
"I am delighted to confirm the launch of our first product from
our latest strategic collaboration with a leading healthcare
company. This exciting opportunity will allow Tissue Regenix to
drive its commercial strategy forward and ensure the continued
growth of the business with minimal impact to our existing
strategic partners and customer base. Securing these important
partnerships and distribution agreements underscore the
differentiation of, and increasing market demand for, our products;
providing further validation of the exciting growth potential for
the business once we have completed the planned expansion of our
processing capacity."
The person responsible for this announcement is Gareth Jones,
Interim CEO.
For more Information:
Tissue Regenix Group plc Tel: 0330 430 3073
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
Simon Conway / 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.
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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