New collaboration with leading healthcare company

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®, Matrix OI®, and DentalFix® 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 Caitlin Pearson   Head of Communications	Tel: [phone]
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker) Jonathan Senior / Alex Price / Ben Maddison	Tel:  [phone]
FTI Consulting  Simon Conway / Victoria Foster Mitchell / Mary Whittow	Tel: [phone]

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.

 

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