Appointment of CEO

RNS Number : 3338V

Tissue Regenix Group PLC

02 November 2017

 

Tissue Regenix Group plc

Appointment of CEO

Steve Couldwell appointed Group CEO

Leeds, 02 November 2017 - Tissue Regenix Group (AIM:TRX) ("Tissue Regenix" or "The Group") the regenerative medical devices company announces the appointment of Steve Couldwell, as Chief Executive Officer of the Group, effective immediately. Steve has been in the position of non- executive director since July 2013.

Steve has over 25 years' experience in the pharmaceutical and medical device industry and a proven track record of delivering revenue and profit growth. Most recently Steve was Chief Operating Officer - Global Sanofi Biosurgery, with responsibility for strategy and execution for global business including manufacturing, regulatory, medical affairs and marketing/ commercial execution, delivering strong double digit growth internationally for 3 consecutive years.  Prior to this Steve held a number of roles at Smith & Nephew including President, Orthopaedics, Europe and Senior VP Sales and Marketing of the Advanced Wound Management business.

Steve Couldwell, Tissue Regenix incoming CEO commented: "Since being appointed to the board in 2013 I have been impressed with the great commercial potential of our dCELL platform. The recent acquisition of CellRight Technologies has increased the market potential and provided a highly complementary product range in the $1.7bn[1] US bone graft and substitute market. I am delighted to be appointed CEO and look 

forward to leading the Group through the integration of CellRight and expansion of commercial activities as we execute our commercial strategy and grow our market share throughout the US and the rest of the world."

John Samuel, Chairman, Tissue Regenix: "The Board and I are delighted to welcome Steve as the Group's new CEO. He has an exceptional track record of growing businesses and the Board firmly believes that Steve has the required skillset and experience to guide the Group along the pathway to profitability. Alongside this, Steve has an in-depth knowledge of the Group thanks to his years as a non-executive director making him an ideal candidate for this position."  

Additional information on Mr Couldwell 

The following additional information is provided in accordance with paragraph (g) of Schedule Two to the AIM Rules for Companies:

Current and past Directorships and Partnerships for Steve Couldwell within the last 5 years, aged 57:

Current

·      Tissue Regenix Group plc

·      Zilico

There is no further information required to be disclosed pursuant to Schedule 2(g) of the AIM Rules.

For more Information:

Tissue Regenix Group plc Caitlin Pearson                                 Head of Communications	Tel: [phone]
Jefferies International Ltd Simon Hardy / Christopher Binks		Tel: [phone]
FTI Consulting  Brett Pollard / Mo Noonan		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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[1] http://www.beckersspine.com/orthopedic-a-spine-device-a-implant-news/item/35889-medtronic-depuy-synthes-stryker-lead-north-american-bone-grafts-substitutes-market-7-observations.html

 

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