Tissue Regenix Group PLC Interim Management Change (5962J)

TIDMTRX

RNS Number : 5962J

Tissue Regenix Group PLC

06 December 2018

Tissue Regenix Group plc

Interim Management Change

Leeds, 05 December 2018 - Tissue Regenix Group (AIM:TRX) ("Tissue Regenix" or "The Group") announces that Steve Couldwell, its Chief Executive Officer, will be taking a temporary leave of absence from January 2019, predicted to last for Q1, due to physical ill health in order to undergo medical treatment.

The Board has approved interim management changes during the period to ensure effective operational performance and continuity of the Group's strategy. Chairman, John Samuel, will become Executive Chairman and Gareth Jones, currently CFO, will become Chief Operating Officer, both on an interim basis.

John Samuel, Chairman, Tissue Regenix Group, said, "Steve has done an excellent job of establishing a sound business strategy and delivering positive sales momentum. We are confident we will continue to execute against this strategy and on behalf of the Board and everyone at Tissue Regenix, I wish Steve a full and speedy recovery."

Current trading for the FY '18 remains in line with Board expectations.

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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December 06, 2018 02:00 ET (07:00 GMT)