Tissue Regenix Group plc
('Tissue Regenix', the 'Group' or the 'Company')
New sports medicine product launch
Tissue Regenix Group plc (AIM: TRX), the regenerative medical devices company, announces the launch of its new BioRinse® product line for all sports medicine allografts that Tissue Regenix distributes in the US and internationally.
The Company's BioRinse sterilisation technology platform uses proprietary processes to produce sterile bone and soft tissue products. The new process for sports medicine allografts causes less damage to the tissue in order to produce an enhanced sterile soft tissue product. The primary market for these grafts is sports medicine, mainly consisting of tendon and ligament reconstruction procedures in the knee, ankle, elbow, and other joints.
The Company has previously discussed plans to innovate the processing protocols for its soft tissue products in order to enhance performance, efficiency, and safety in the products that Tissue Regenix already produces for the sports medicine market. These changes will allow Tissue Regenix to capture a larger segment of the estimated USD300 million market for allograft soft tissue tendons for ligament reconstruction procedures of the knee.
Daniel Lee, Chief Executive Officer of Tissue Regenix, commented: "As part of our ongoing initiatives to provide high-quality products to our customers, we continually monitor market dynamics and customer needs. With the launch of our new product, we are offering an enhanced tissue allograft option. The initial reaction of our commercial partners has been positive and will aid our commercial efforts in both the domestic and rest of the world markets."
For more information:
| Tissue Regenix Group plc | ||
| David Cocke, Chief Financial Officer | via Walbrook PR | |
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| finnCap Ltd (Nominated Adviser and Broker) | | |
| Emily Watts/Geoff Nash/George Dollemore - Corporate Finance | | |
| Nigel Birks/Harriet Ward - ECM | | |
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| Walbrook PR (Financial PR and IR) | Tel: +44 (0)20 7933 8780 | |
| Alice Woodings/Lianne Applegarth | TissueRegenix@walbrookpr.com | |
About Tissue Regenix (www.tissueregenix.com)
Tissue Regenix is a leading medical device company in regenerative medicine. The Company's patented decellularisation technology (dCELL®) removes DNA and other cellular material from animal and human soft tissue, leaving an acellular tissue scaffold not rejected by the patient's body that can be used to repair diseased or damaged body structures. Current applications address many crucial clinical needs in sports medicine, foot and ankle injuries, and wound care.
In August 2017, Tissue Regenix acquired CellRight Technologies®. This biotech company specialises in regenerative medicine and is dedicated to developing high-quality, innovative tissue scaffolds to enhance healing opportunities in defects created by trauma and disease. CellRight's human tissue products may be used in spine, trauma, general orthopaedic, dental and ophthalmological surgical procedures.
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