Tissue Regenix Group PLC (LON:TRX) shares popped higher on Monday morning after the firm announced the launch of a new business unit as well as unveiling an exclusive distribution deal for its flagship product.
Around 10.15am, Tissue Regenix shares were up 1.6% at 7.88p.
The wound care specialist has set up TRX BioSurgery to further promote its DermaPure graft as surgical application following success in this sphere and the growing adoption of the product.
It has seen significant uptake in the orthopaedic trauma and urogynaecology segments.
“Progressing from traditional wound care clinical settings to surgical applications is a natural evolution for DermaPure, which has proven to be clinically efficient in just a single application,” said said chief executive Steve Couldwell.
The Tissue Regenix boss also announced the formation of a distribution partnership with ARMS Medical.
The multi-year agreement gives ARMS exclusive rights to distribute DermaPure to hospitals and surgeons throughout the US for use in urology and gynecology procedures.
The partnership will allow the UK firm’s direct sales force to maintain their focus on soft tissue regeneration in the wound, plastics, orthopaedics and general surgery markets.
“Our partnership with ARMS Medical, who are known for bringing innovation to women's pelvic health solutions, allows us to leverage their strong relationships with key opinion leaders in the urogynaecology space to further access this market, whilst also maintaining commercial focus in our other key areas," Couldwell.
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