Notice of cyber security incident

RNS Number : 1379B

Tissue Regenix Group PLC

28 January 2020

 

This announcement contains inside information

Tissue Regenix Group plc

Notice of cyber security incident

Leeds, 28 January 2020 - Tissue Regenix Group (AIM:TRX) ("Tissue Regenix" or the "Company") the regenerative medical devices company, today reports that it has been subject to a cyber security incident which involved unauthorised access to its computer systems, and those of its third-party IT service provider, in the United States.  The Company took immediate steps to respond and manage the incident, appointing external specialists, including forensic cyber security experts to investigate the circumstances and scope of the incident. These investigations are ongoing.

Tissue Regenix has taken precautionary steps, including taking affected systems offline. This has restricted access to certain business operations, including the Company's ability in the short-term to continue manufacturing in its United States facility, which has been taken offline whilst the incident is being investigated.  The incident is not believed to have impacted its UK operations or financial systems.

The Company is engaged with its third-party IT service provider, the relevant legal authorities and cyber security experts to rectify the incident as quickly as possible and to minimise any impact on its operations. The time required to resolve the incident is currently unknown.

The Company is also working to understand and quantify the potential financial impact of the incident, including protections afforded under its business disruption insurance. 

A further update will be made in due course.

The person responsible for this announcement is John Samuel, Executive Chairman.

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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