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.
- 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".