Tissue Regenix Group PLC (LON:TRX) shares jumped 6% higher on Tuesday as the firm announced that its subsidiary, CellRight Technologies has signed a long-term, multi-year distribution agreement with Arthrex Inc., a premier orthopaedic surgical solutions company.
The AIM-listed regenerative medical devices company said the multi-year commitment will give surgeons access to verified osteobiologics - materials that help heal bone defects - and advanced surgical instruments and techniques to help influence better patient outcomes.
CellRight provides osteobiologics for use in orthopaedic, spine and foot, and ankle procedures to enhance healing of defects caused by trauma or disease.
Steve Couldwell, Tissue Regenix's chief executive, commented: "This is a flagship distribution agreement for CellRight and the wider Tissue Regenix Group. It highlights the value of strategic partnerships with prestigious companies in this space.”
Jesus Hernandez, chief executive of CellRight, added: "This long-term distribution agreement will allow physicians and patients better access to CellRight's innovative orthobiologics through the Arthrex network".
In late morning trading, Tissue Regenix shares were 6.1% higher at 8.75p.
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