Hardman & Co Research on Tissue Regenix (TRX):

Continuation of the positive momentum

TRX is focused on the development and commercialisation of two proprietary processing technologies for the repair of soft tissue (dCELL®) and bone (BioRinse®). It has a broad portfolio of regenerative medicine products for the biosurgery, orthopaedics and dental markets. 1H’23 results highlighted the benefits and efficiencies being derived from investment and reorganisation in manufacturing capacity, with the first underlying EBITDA-positive reporting period. With further strong growth forecast in 2H’23, TRX is on the cusp of achieving profitability. Phase 2 of its capacity expansion programme is expected to be completed in 2025.

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