HTA License granted and UK distribution Agreement

RNS Number : 3185S

Tissue Regenix Group PLC

25 June 2018

 

 Tissue Regenix Group plc

HTA license granted for import of CellRight Technologies' products into the UK

First commercial distribution agreement signed in UK

Leeds, 25 June 2018 - Tissue Regenix Group (AIM:TRX) ("Tissue Regenix" or "The Group") the regenerative medical devices company announces that it has been granted a Human Tissue Authority (HTA) license to import and distribute its' portfolio of Human tissue derived products from the US for use in the UK market. To drive commercial execution The Group has also signed a long term, non-exclusive UK distribution agreement with Pennine Healthcare Limited ("Pennine").

HTA License

The HTA license will initially be used for the import of the CellRight 'BioRinse' portfolio of osteoinductive bone products from the San Antonio, Texas manufacturing facility into the UK.

UK Distribution Agreement Signed

Demand for osteoinductive regenerative medicine continues to increase in the UK. In order to access the market effectively, the Group has signed a three-year, non-exclusive distribution agreement with Pennine.

Pennine is one of the UKs leading privately owned manufacturers and distributors of medical devices. With an established presence in the UK Orthopaedic market, the agreement with Pennine will enable Tissue Regenix to further penetrate the UK orthopaedic spine market. Under the terms of the agreement, Pennine will have access to Tissue Regenix portfolio of novel bone and soft tissue products, which will complement Pennine's existing range of spinal implants.

Steve Couldwell, CEO, Tissue Regenix Group plc, commented: "Receiving the HTA license is a pivotal milestone as we complete the integration of CellRight into the Group. This allows us to import the BioRinse portfolio in to the UK and ultimately, over time, distribute throughout Europe to meet increasing demand for our novel regenerative medicines. The HTA license provides the flexibility to import, store and distribute our portfolio of innovative products, a key commercial growth driver for the Group in the future."

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/ Rob Winder	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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