Tissue Regenix Group PLC Chinese distribution agreement for OrthoPure(R) XT (0306N)
January 18 2023 - 2:00AM
UK Regulatory
TIDMTRX
RNS Number : 0306N
Tissue Regenix Group PLC
18 January 2023
Tissue Regenix Group plc
('Tissue Regenix', the 'Company' or the 'Group')
Chinese distribution agreement secured for OrthoPure (R) XT
Tissue Regenix (AIM: TRX), the regenerative medical device
company, announces that it has signed an exclusive distribution
agreement with Kingsung Medical Group (Kingsung Medical), a Hong
Kong-based medical enterprise, for the distribution of OrthoPure(R)
XT in China.
The initial agreement is for six years and requires Kingsung
Medical to purchase a minimum unit volume each year to maintain its
exclusive status. As part of the agreement, Kingsung Medical and
Tissue Regenix are mutually committed to advancing the clinical
study of OrthoPure(R) XT to further support the regulatory approval
process in China. Kingsung Medical is a medical technology group
that integrates production, development and sales to provide
world-leading medical technologies with exclusive value and
service. It has direct sales teams in 10 cities in China as well as
channel marketing sales and agents in every province to support
clinics.
The OrthoPure (R) XT decellularised xenograft ligament utilises
Tissue Regenix's patented dCELL(R) technology and is the only
available, non-human biologic graft indicated for certain ligament
reconstruction procedures. The CE - marked OrthoPure (R) XT can be
used for the revision of anterior cruciate ligament (ACL)
reconstruction procedures and reconstruction of other knee
ligaments, including multi-ligament and primary procedures when an
autograft is not an option.
Daniel Lee, CEO of Tissue Regenix, commented: "In the last year,
we secured significant geographical partnerships in Germany and
Italy and now in China for OrthoPure (R) XT. The market for ACL
reconstruction in China is estimated to be in the range of
200,000-250,000 procedures per year, and this market needs
additional graft options. As part of the agreement, both parties
are committed to the advancement of clinical science surrounding
OrthoPure(R) XT as part of the regulatory approval process for this
market. We are delighted to be partnering with Kingsung Medical and
hope this will be the start of a strong relationship as we continue
to expand our geographical footprint into new territories."
Echo Liu, Chairman and President of Kingsung Medical Group,
stated: " Adhering to the development philosophy of 'professional
and innovation-oriented', Kingsung Medical has always been
committed to providing surgeons and patients with the world's
leading new technologies and products with unique clinical
value.
"With the rapid development of sports medicine in China, we are
delighted to introduce OrthoPure(R) XT to the Chinese market. We
will accelerate the registration and launch of OrthoPure(R) XT in
China and promote its emergence as a new option to allow patients
with knee ligament injuries to achieve excellent treatment results
earlier.
"We firmly believe that this new technology will inject impetus
into the development of China's healthcare industry and benefit
more patients."
For more information:
Tissue Regenix Group plc www.tissueregenix.com
David Cocke, Chief Financial Officer Via Walbrook PR
Stifel Nicolaus Europe Limited (Nominated Tel: +44(0)20 7710 7600
Adviser and Broker)
Ben Maddison / Nick Harland / Kate Hanshaw
Walbrook PR Ltd Tel: +44(0)20 7933 8780
Alice Woodings / Lianne Applegarth TissueRegenix@walbrookpr.com
About Tissue Regenix (www.tissueregenix.com)
Tissue Regenix is a leading medical device company in the field
of regenerative medicine. 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 damaged body structures. Current applications
address many critical clinical needs in sports medicine, foot and
ankle and wound care.
In August 2017, Tissue Regenix acquired CellRight
Technologies(R), a biotech company that specialises in regenerative
medicine and is dedicated to the development of innovative
osteoinductive and wound care scaffolds, which enhance healing
opportunities of defects created by trauma and disease.
CellRight(R)'s human osteobiologics may be used in spine, trauma,
general orthopaedic, dental and ophthalmological surgical
procedures.
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