Tissue Regenix Group PLC – HTA License granted and UK distribution Agreement
Tissue Regenix Group (AIM:TRX) the regenerative medical devices company announces that it has been granted a Human Tissue Authority (HTA) license to import and distribute its' portfolio of Human tissue derived products from the US for use in the UK market. To drive commercial execution The Group has also signed a long term, non-exclusive UK distribution agreement with Pennine Healthcare Limited ("Pennine").
The HTA license will initially be used for the import of the CellRight 'BioRinse' portfolio of osteoinductive bone products from the San Antonio, Texas manufacturing facility into the UK.
UK Distribution Agreement Signed
Demand for osteoinductive regenerative medicine continues to increase in the UK. In order to access the market effectively, the Group has signed a three-year, non-exclusive distribution agreement with Pennine.
Pennine is one of the UKs leading privately owned manufacturers and distributors of medical devices. With an established presence in the UK Orthopaedic market, the agreement with Pennine will enable Tissue Regenix to further penetrate the UK orthopaedic spine market. Under the terms of the agreement, Pennine will have access to Tissue Regenix portfolio of novel bone and soft tissue products, which will complement Pennine's existing range of spinal implants.
Steve Couldwell, CEO, Tissue Regenix Group plc, commented: "Receiving the HTA license is a pivotal milestone as we complete the integration of CellRight into the Group. This allows us to import the BioRinse portfolio in to the UK and ultimately, over time, distribute throughout Europe to meet increasing demand for our novel regenerative medicines. The HTA license provides the flexibility to import, store and distribute our portfolio of innovative products, a key commercial growth driver for the Group in the future."