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Tissue Regenix CFO Paul Devlin to step down

Paul Devlin played a "significant role" throughout the group's fundraise used for the acquisition of CellRight Technologies

Tissue Regenix
The regenerative medical device company has seen some big changes at the top

Tissue Regenix Group PLC (LON:TRX) said on Friday that chief financial officer Paul Devlin will step down and the medical device company has started the process to appoint a successor.

Steve Couldwell, who was named as chief executive in November, said: "Paul played a significant role throughout the fundraise and acquisition process, we wish him every success in the future."

READ: Tissue Regenix appoints non-executive director Couldwell as new chief executive

In August, Tissue raised £40mln from investors, of which £25mln was used to complete the “transformational” acquisition of CellRight Technologies.

Alongside the announcement of Devlin’s departure, the company said it has issued and allotted 552,337 ordinary shares of 0.5p each following the exercise of options.

Quick facts: Tissue Regenix Group PLC

Price: 0.375 GBX

Market: AIM
Market Cap: £4.39 m

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