Tissue Regenix (TRX) has, via its recently acquired subsidiary CellRight Technologies, entered into an agreement to allow Arthrex, Inc. to distribute its proprietary BioRinse bone portfolio throughout Europe.
Arthrex and Tissue Regenix have been doing collaborative work to evaluate business opportunities and the agreement is a direct result.
Steve Couldwell, CEO, Tissue Regenix Group said: "Since signing the US distribution agreement in March we have continued to build a strong alliance, identifying areas where we can work together and leverage the expertise of both companies.”
He added: “This European agreement allows us to exploit not only our ability to import our BioRinse bone portfolio into the UK facility but also Arthrex' expansive distribution network, another significant milestone towards our vision of building a leading force in regenerative medicine."
Tissue Regenix was formed as a spin-out from the University of Leeds, UK. It's patented decellularisation 'dCELL®' 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.
Shares in the company were up 2% trading at 7.4p following the announcement of the agreement.
“The market for human therapeutic products employing tissue engineering is one of the most rapidly growing sectors within the medical products sector.”
The company’s applications address many critical clinical needs in sports medicine, heart valve replacement and wound care.
The company’s recently acquired CellRight Technologies specializes in regenerative medicine and develops 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.
Through the company’s U.S. subsidiary, it has also established the Joint Venture GMB-V, a multi-tissue bank based in Rostock, Germany in January 2016.
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