Shares in Tissue Regenix Group PLC (AIM:TRX) rose 4% in early trading on Tuesday following the launch of its new BioRinse product line, aimed at the sports medicine allograft market in the US and internationally.
Sentiment was lifted after CEO Daniel Lee said the initial response from commercial partners has been positive.
Utilising innovative technology, the company produces sterile bone and soft tissue products while minimising tissue damage.
These grafts are primarily used for tendon and ligament repairs in joints like the knee, ankle and elbow.
The company aims to enhance the performance, efficiency and safety of its existing product range in the sports medicine sector, targeting a larger slice of the estimated US$300 million market for allograft soft tissue tendons in knee reconstruction.
The shares initially rose 8%, before settling at 52p, up 2p on the day.