Tissue Regenix Group PLC Appointment of CFO (5075T)

TIDMTRX

RNS Number : 5075T

Tissue Regenix Group PLC

04 July 2018

Tissue Regenix Group plc

Appointment of CFO

Leeds, 04 July 2018 - Tissue Regenix Group (AIM:TRX) ("Tissue Regenix" or "The Group") the regenerative medical devices company, today announces the appointment of Gareth Hywel Jones as Chief Financial Officer (CFO). He will join the Group as CFO, Company Secretary and as an Executive Director on the Board on 30 November 2018.

Mr Jones, who will join the Group from Applied Graphene Materials plc (AGM), is an experienced CFO, bringing significant operational, high technology manufacturing and strategic financial expertise gained through roles in UK and US listed businesses as well as private equity.

Current interim CFO, Paul Below, will remain with The Group to facilitate an orderly hand-over.

Steve Couldwell, CEO Tissue Regenix Group, commented: "We are delighted to announce the appointment of Gareth as our Chief Financial Officer. After an extensive recruitment process, Gareth's proven experience of implementing operational enhancements, divisional business unit management, profit improvement initiatives and strategic commercial planning, in both UK and US quoted companies, will significantly strengthen our leadership team. I look forward to welcoming Gareth to the Group in November."

Gareth Jones, CFO - Designate for Tissue Regenix, commented: "Tissue Regenix is at an exciting inflection point in terms of executing against its commercial growth strategy. With tangible and growing traction in the US markets and multiple EU product launches expected, I look forward to working with the executive team and Board as the Company continues to deliver strong organic growth from its innovative products."

Mr Jones qualified as a Chartered Accountant with Pricewaterhouse Coopers in 1993.

Full details of Mr Jones' (aged 50) current and past directorships within the last five years are provided below. It is intended that Mr Jones will step down from all other Directorships upon commencement of his position within The Group.

Current Directorships

Applied Graphene Materials plc, Chief Financial Officer, April 2017 - Present

Applied Graphene Materials UK Limited

Past Directorships

Gardner Denver Group Services Limited, Finance Director of Emco Wheaton Division, September 2013-March 2017

Vireol Bio-Industries plc, Vireol Limited, Finance and Commercial Director October 2006-September 2013

Gareth Jones has no shareholding in the Company. It is intended that the Company will, on or as soon as possible following his appointment grant Gareth options over new ordinary shares in the Company.

There is no further information to be disclosed in accordance with the requirements of Schedule Two paragraph (g) of the AIM rules.

For more Information:

 
 Tissue Regenix Group plc                   Tel: [phone] / 
  Caitlin Pearson Head of Communications     07920272 441 
-----------------------------------------  --------------------- 
 
 Jefferies International Ltd                Tel: [phone] 
  Simon Hardy / Christopher Binks 
-----------------------------------------  --------------------- 
 
 FTI Consulting                             Tel: [phone] 
  Brett Pollard / Mo Noonan/ Mary Whittow 
=========================================  ===================== 
 

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(R) ') 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(R) , 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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July 04, 2018 02:00 ET (06:00 GMT)