Completion of phase 1 of new US facility expansion

RNS Number : 2386D

Tissue Regenix Group PLC

28 June 2021

 

Tissue Regenix Group plc

("Tissue Regenix" or "the Group")

Completion of phase one of new US facility expansion project

Tissue Regenix (AIM: TRX), the regenerative medical devices company, announces the completion of phase one of its expansion plans, which increases manufacturing capacity at its San Antonio Texas facilities. The San Antonio facilities include the Company's existing facility and a 21,000 sq. ft facility adjacent on which it has a ten-year lease.

The Company announced on 18 March 2021 that it had completed the initial part of its expansion project. Overall, phase one was completed both on time and on budget.

The remaining aspects of phase one consisted of expanding the space for supporting administrative departments, which has taken place in the Company's leased facility adjacent to its existing facility, and building and qualifying two additional clean rooms, which are in the Company's existing facility. The two clean rooms are being used for the processing and packaging of tissue products, bringing the Company's total number of clean rooms to seven. Relocation of the supporting departments to the adjacent facility has also created additional expansion opportunities for production and quality functions in the Company's existing facility.

Daniel Lee, Chief Executive Officer of Tissue Regenix Group plc, said:  "The completion of our phase one expansion plans on time and on budget is excellent news, and provides us additional capacity and flexibility in line with our projected growth in our different target markets. Staging our expansion was a prudent opportunity to meet our demand and capacity needs in an efficient manner."

For more information:

Tissue Regenix Group plc David Cocke, Chief Financial Officer	www.tissueregenix.com Via Walbrook PR
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker) Ben Maddison / Alex Price	Tel:  [phone]
Walbrook PR Ltd Alice Woodings / Paul McManus	Tel: [phone]  [e-mail]

About Tissue Regenix ( www.tissueregenix.com )

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 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 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 soft tissue scaffolds that enhance healing opportunities of defects created by trauma and disease. CellRight's human osteobiologics may be used in spine, trauma, general orthopaedic, foot & ankle, dental, and sports medicine surgical procedures.

 

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