Tissue Regenix Group PLC Resolution of Cyber Security Incident (9167B)

TIDMTRX

RNS Number : 9167B

Tissue Regenix Group PLC

04 February 2020

This announcement contains inside information

Tissue Regenix Group plc

Resolution of Cyber Security Incident

Leeds, 4 February 2020 - Tissue Regenix Group (AIM:TRX) ("Tissue Regenix" or the "Company") the regenerative medical devices company, is pleased to confirm that due to actions taken following the cyber security incident, as originally reported by the Company on 28 January 2020, the recovery has now been completed and all critical IT systems have been restored and brought back online. All processing in the Company's United States facility has also resumed with immediate effect.

The incident is projected to have a very short-term impact on the Company's ability to service customer demand, and it is anticipated that delayed orders will be dispatched over the coming weeks. Based on the Company's initial investigations, there are no indications of any external transfer of sensitive or financial data, and the Company does not expect any associated costs of the system restoration to be material to the short-term cash flow.

The Company has implemented additional data security procedures to reduce the risk of future similar incidents from occurring, and will review its IT security procedures and service providers on an ongoing basis moving forward.

The person responsible for this announcement is John Samuel, Executive Chairman.

For more Information:

 
 Tissue Regenix Group plc                        Tel: [phone] 
  Caitlin Pearson Head of Communications 
---------------------------------------------  -------------------- 
 
 Stifel Nicolaus Europe Limited (Nominated      Tel: [phone] 
  Adviser and Broker) 
  Jonathan Senior / Alex Price / Ben Maddison 
---------------------------------------------  -------------------- 
 
 FTI Consulting                                 Tel: [phone] 
  Simon Conway / Victoria Foster Mitchell 
  / 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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February 04, 2020 06:47 ET (11:47 GMT)