Tissue Regenix Group PLC (AIM:TRX, OTC:TSSNF), the regenerative medical device company, has signed an exclusive distribution agreement with Hong Kong-based Kingsung Medical Group for the distribution of its OrthoPure XT product in China.
The initial agreement is for six years, with a minimum unit volume required to be purchased each year to maintain exclusivity. The two companies are also committed to advancing the clinical study of OrthoPure XT to support the regulatory approval process in China.
The OrthoPure XT decellularised xenograft ligament is the only non-human biologic graft currently available and indicated for certain ligament reconstruction procedures.
CE-marked OrthoPure XT can be used for the revision of anterior cruciate ligament (ACL) reconstruction procedures and reconstruction of other knee ligaments, including multi-ligament and primary procedures when an autograft is not an option.
Kingsung Medical is a medical technology group that integrates production, development and sales to provide world-leading medical technologies with exclusive value and service. It has direct sales teams in 10 cities in China as well as channel marketing sales and agents in every province to support clinics.
Daniel Lee, chief executive of Tissue Regenix, said the market for ACL reconstruction in China is estimated to be between 200,000 and 250,000 procedures per year, and this market needs additional graft options.
He added: "We are delighted to be partnering with Kingsung Medical and hope this will be the start of a strong relationship as we continue to expand our geographical footprint into new territories."