Tissue Regenix Group PLC First EU shipment & new distributor agreements

RNS Number : 0928C

Tissue Regenix Group PLC

06 February 2024

 

Tissue Regenix Group plc

('Tissue Regenix', the 'Company', or the 'Group')

 

First shipment and sale of allograft products in the EU following HPRA approval

&

New distributor agreements signed for Turkey and Ireland

 

Tissue Regenix (AIM: TRX), the regenerative medical device company, announces that the first order of its allograft products has been shipped from its third-party Irish logistics hub, Biostór Ireland Ltd, following approval from the Irish Health Products Regulatory Authority ('HPRA') in October 2023. The Irish logistics hub provides a central European location for the distribution of Tissue Regenix's allograft products throughout the European Union ('EU'), facilitating increased shipments across the EU and aiding the potential for further partnerships and distributor contracts within these countries.

 

Tissue Regenix also announces that it has signed two new distributor agreements for its allograft products in Turkey and Ireland (including Northern Ireland). These agreements cover the dental and orthopaedic markets and continue the expansion of the Company's EU coverage, following the recently announced exclusive distributor agreement in Spain with Spineart España SLU.

 

These developments are in line with the Group's commercial strategy of expanding its distribution network and growing market share in other jurisdictions outside the US in H2 2023.

 

Daniel Lee, Chief Executive Officer of Tissue Regenix Group plc, commented: "At our interims we outlined our intention to more broadly distribute allograft tissue products, and I am pleased to report the positive progress we are making against this growth pillar. These new distributor contracts, alongside the first shipment of products from our Irish logistics hub, are a great step forward in the Company's EU expansion plan into markets where we gain approvals and demonstrate the effectiveness of our ongoing 4S strategy as we scale the business outside of the US."

 

For more information:

 

Tissue Regenix Group plc	www.tissueregenix.com
David Cocke, Chief Financial Officer	via Walbrook PR
Cavendish Capital Markets Limited (Nominated Adviser and Broker)
Emily Watts/Geoff Nash/George Dollemore - Corporate Finance
Nigel Birks/Harriet Ward - ECM
Walbrook PR (Financial PR and IR)	Tel: [phone]
Charlotte Edgar / Alice Woodings	[e-mail]

 

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.

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