Tissue Regenix Group PLC (LON:TRX) has been granted a Human Tissue Authority licence which will allow it to import and distribute its US-made products in the UK market.
The licence will initially be used to import CellRight’s BioRinse portfolio of bone healing products which are made at its Texas manufacturing facility.
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Leeds-based TRX announced plans to acquire US group CellRight, a regenerative medical devices business, last July for up to £23mln.
The AIM-quoted firm has also inked a non-exclusive three-year distribution agreement with Pennine Healthcare.
Pennine has an “established presence” in the UK orthopaedic market which should help to drive sales of Tissue’s bone and soft tissue products.
‘Pivotal milestone’
“Receiving the HTA license is a pivotal milestone as we complete the integration of CellRight into the group,” said chief executive Steve Couldwell.
“This allows us to import the BioRinse portfolio in to the UK and ultimately, over time, distribute throughout Europe to meet increasing demand for our novel regenerative medicines.
“The HTA licence provides the flexibility to import, store and distribute our portfolio of innovative products, a key commercial growth driver for the group in the future.”