Tissue Regenix Group PLC (AIM:TRX), the regenerative medical devices specialist, has received approval from the Irish Health Products Regulatory Authority (HPRA) to establish a logistics hub in Ireland for the distribution of its allograft products within the European Union (EU).
This approval is a significant milestone, allowing Tissue Regenix to bolster its supply chain and extend its reach in the competitive EU market.
In tandem with the HPRA approval, Tissue Regenix has also signed an exclusive distribution contract with Spineart España SLU, a privately held medical device company.
Spineart operates in over 60 markets globally and specialises in providing safe and efficient surgical solutions. The partnership is designed to strengthen Tissue Regenix's presence in Spain and aligns with the company's broader strategic objectives.
"Receiving HPRA approval is a great step for Tissue Regenix, as it will provide a logistics hub for the distribution of our allograft products to the European market." said chief executive Daniel Lee.
"Following this, we are delighted to be partnering with Spineart to bring our allograft products to more customers in the EU. Spineart have a large global footprint that we hope in time can be leveraged to bring our products to more customers internationally."