Additional US regional distribution agreement

RNS Number : 7013T

Tissue Regenix Group PLC

22 July 2015

 



Tissue Regenix Group plc

Tissue Regenix extends product availability through new distributor agreement

York, 22 July 2015 - Tissue Regenix Group plc (AIM:TRX) ("Tissue Regenix" or "The Group"), the regenerative medical devices company, announces that TRX Wound Care Inc. has signed an additional regional distribution agreement for DermaPure®.

This agreement has been signed with an experienced local surgical and wound care distributor who will cover one of the 12 states in the Novitas Medicare administrative jurisdiction.  The partnership is expected to be worth a minimum of $135k over the next 12 months and follows the signing of the first regional distributor agreement, covering two states in the jurisdiction, which is expected to be worth a minimum of $600k over the next 12 months.

Entering into such partnerships is in line  with Tissue Regenix's 'hybrid' distribution strategy of utilising both direct and indirect sales representation and compliments the momentum being developed by  the Company's own salesforce which is being expanded as a result of the January fundraising.

The signing of this agreement is representative of the significant, and growing, commercial interest in DermaPure® after what has been a transformational year for the product. Within the first six months of 2015 it has become available to 20.7 million Medicare beneficiaries across 30 states.

Tissue Regenix Group CEO Antony Odell commented:

"2015 has been a seminal year for DermaPure® in the United States and this is credit to the hard work being undertaken by our regional team.

This announcement is another demonstration of the group delivering on its strategy to fully commercialise DermaPure in the United States and highlights the benefits of our hybrid distribution strategy.

In light of DermaPure's continued provision of outstanding clinical outcomes, I remain confident in achieving both further coverage by Medicare administrators and entering into additional beneficial distributor agreements."

Notes:

Previously announced DermaPure® coverage approvals:

Novitas Solutions: Arkansas, Colorado, Delaware, Louisiana, Maryland, Mississippi, New Jersey, New Mexico, Oklahoma, Pennsylvania, Texas and  Washington DC

CGS:  Kentucky and Ohio

Noridian Healthcare Solutions: Alaska, Arizona, California, Hawaii, Montana, Nevada, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming.

Palmetto GBA: North Carolina, South Carolina, Virginia and West Virginia

For Further Information

Tissue Regenix Group Plc:                                                           [phone]

Antony Odell

Ian Jefferson

Jefferies International Ltd:                                                         [phone]

Simon Hardy

Harry Nicholas

Tulchan Communications:                                                           [phone]

Tom Buchanan                                                                                 

Victoria Huxster              

Matt Low

About Tissue Regenix

Tissue Regenix is a leading medical devices company in the field of regenerative medicine. The company's patented decellularisation ('dCELL®') technology removes DNA and other cellular material from animal and human tissue leaving an acellular tissue scaffold which is not rejected by the patient's body which can then be used to repair diseased or worn out body parts. The potential applications of this process are diverse and address many critical clinical needs such as vascular disease, heart valve replacement and knee repair.

Tissue Regenix was formed in 2006 when it was spun-out from the University of Leeds. The company commercialises academic research conducted by our partners around the World.

In November 2012 Tissue Regenix Group plc set up a subsidiary company in the United States- 'Tissue Regenix Wound Care Inc.', as part of its commercialisation strategy for its dCELL® technology platform.

 

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