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Tissue Regenix enters UK distribution deal for 'OrthoPure XT'
24th Aug 2020 11:33
(Sharecast News) - Regenerative medical devices company Tissue Regenix Group has entered into a distribution agreement, and secured its first order with, a speciality supplier of orthopaedic and biologic products, it announced on Monday.
The AIM-traded firm said the agreement was for the UK distribution of 'OrthoPure XT', following its recent CE-mark approval in June.
It described OrthoPure XT as a decellularised porcine tendon, developed using its patented 'dCELL' technology.
The product was granted CE-mark approval for the reconstruction of knee ligaments, to restore knee function and stability.
Under the terms of the UK distribution agreement, the NHS and private healthcare sectors would have access to OrthoPure XT.
The group said it would initially focus on commercialisation of OrthoPure XT in the UK, before beginning a gradual roll-out into certain other European countries over time.
Tissue Regenix said it had received the first modest order, with delivery expected to take place during the fourth quarter.
It was expected that demand for the product line would increase in 2021, as additional distribution opportunities were identified.
"As a specialist supplier of orthopaedic and biologic products to the NHS, we have secured an ideal partner to support the commercialisation of OrthoPure XT in the UK," said interim chief executive officer Gareth Jones.
"We believe OrthoPure XT has the potential to be a disruptive product in the market for reconstruction of knee ligaments and offers benefits to patients and healthcare providers.
"The launch of OrthoPure XT is a key milestone for the company, as we continue to strengthen our product portfolio."
At 1131 BST, shares in Tissue Regenix were down 0.12% at 0.33p.
The AIM-traded firm said the agreement was for the UK distribution of 'OrthoPure XT', following its recent CE-mark approval in June.
It described OrthoPure XT as a decellularised porcine tendon, developed using its patented 'dCELL' technology.
The product was granted CE-mark approval for the reconstruction of knee ligaments, to restore knee function and stability.
Under the terms of the UK distribution agreement, the NHS and private healthcare sectors would have access to OrthoPure XT.
The group said it would initially focus on commercialisation of OrthoPure XT in the UK, before beginning a gradual roll-out into certain other European countries over time.
Tissue Regenix said it had received the first modest order, with delivery expected to take place during the fourth quarter.
It was expected that demand for the product line would increase in 2021, as additional distribution opportunities were identified.
"As a specialist supplier of orthopaedic and biologic products to the NHS, we have secured an ideal partner to support the commercialisation of OrthoPure XT in the UK," said interim chief executive officer Gareth Jones.
"We believe OrthoPure XT has the potential to be a disruptive product in the market for reconstruction of knee ligaments and offers benefits to patients and healthcare providers.
"The launch of OrthoPure XT is a key milestone for the company, as we continue to strengthen our product portfolio."
At 1131 BST, shares in Tissue Regenix were down 0.12% at 0.33p.