Expands US GPO coverage for DermaPure

RNS Number : 1105V

Tissue Regenix Group PLC

04 April 2019

 

Tissue Regenix Group plc

Expands US GPO coverage for DermaPure into 1,500 additional hospitals

Leeds, 04 April 2019 - Tissue Regenix Group (AIM:TRX) ("Tissue Regenix" or "The Group"), a regenerative medical devices company, announced that it has secured additional coverage with a US Group Purchasing Organization (GPO) for the use of DermaPure, a decellularized allograft dermis.

The additional coverage will open up access to a further 1,500 hospitals and 32,500 alternative care providers, primarily in the South Eastern region of the US, bolstering the commercial opportunity in Florida, the second largest State with regard to the use of biological tissues such as the DermaPure product.

This expansion builds on Tissue Regenix's contracts with the two largest GPOs in the US, Premier, Inc. and Vizient, Inc., and with the addition of this new agreement increases potential DermaPure availability into 95% of institutions that purchase via large GPO networks, allowing patients and physicians potential to access the clinical and health economic benefits provided by DermaPure.

Gareth Jones, interim COO of Tissue Regenix Group commented: "GPO approvals play a fundamental role in the Group's commercialisation strategy for DermaPure, in order to bring this important treatment option to more patients. Another successful approval from a GPO reflects the positive changes we made to our commercial sales strategy where we realigned our efforts to drive adoption directly in the hospital space. This recent approval will provide a more regional focus across the US landscape, furthering our US market penetration efforts."

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  Brett Pollard / 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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