logo-loader
viewTissue Regenix Group PLC

Tissue Regenix focused on execution after restructuring

Snapshot

The company has two products spanning wound care, orthopaedics and cardiac applications which are based on two proven technologies

Tissue Regenix Group PLC -

Quick facts: Tissue Regenix Group PLC

Price: 0.65 GBX

AIM:TRX
Market: AIM
Market Cap: £7.62 m
Follow
  • Products spanning wound care, orthopaedics and cardiac application

  • Focused on boosting sales after capacity boost

  • Operations split between the UK and US 

 

Tell us about the company

Regenerative medical devices maker Tissue Regenix PLC (LON:TRX) has products spanning wound care, orthopaedics and cardiac applications, which are based on two proven technologies.

The first, dCELL, removes cellular and DNA material from biological tissues, leaving intact a scaffold upon which the patient's cells can regenerate and re-populate.

The AIM-listed company, which was spun out from the University of Leeds in 2006, uses dCELL Technology in its DermaPure product for the healing of chronic wounds.

The other technology, BioRinse, does a similar job, killing micro-organisms, bacteria and spores as well as removing debris, blood, bone marrow and lipids.

It is key to the process used to create regenerative scaffolds used by surgeons developed by CellRight – the Texas-based biotech Tissue Regenix bought in August 2017.

CellRight provides osteobiologics for use in orthopaedic, spine and foot, and ankle procedures to enhance healing of defects caused by trauma or disease.

 

How it's doing?

Revenues for the year gone rose 12% to £13mln, while it had £2.4mln of cash, including a £1mln revolving credit facility. 

Tissue faced several headwinds last year including a lack of donor material, which impacted second-half product availability and sales performance.

A restructuring reduced the headcount by 18, while it has invested in a new US facility in San Antonio.

 

Inflexion points

  • US market penetration increases as demand for Biorinse and Dermapure picks up
  • New product designations for both products 
  • Refinancing is completed 

 

What the boss says

Interim chief executive Gareth Jones said of the company's strategy going forward: "We've gone back to the beginning and looked at our supply chain.

We recruited a specialist in donor services and really looked at how we get donors in. It's not just a question of quantity, but it's a question of quality and availability as well."

"But it really is about commercial execution for us now - we have significant demand, and it really is about us executing that and delivering products to our customers," he added.

A lot of that growth is coming from the US, Jones added: "We're getting a lot of traction, momentum, and demand for our products in America".

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Tissue Regenix Group PLC named herein, including the promotion by the Company of Tissue Regenix Group PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Tissue Regenix increasing throughput in its facility to meet 'exceptional...

Tissue Regenix PLC's (LON:TRX) Gareth Jones caught up with Proactive's Andrew Scott to update on developments in the regenerative medical devices maker's second half. ''The focus is really on increasing throughput in our San Antonia facility in the United States to allow us to meet the demand...

on 19/12/19

2 min read