Tissue Regenix Group PLC (LON:TRX) has said it is planning to move its head office and manufacturing operation to Garforth in Leeds from nearby Swillington, saving an annualised £400,000 in the process.
As part of the relocation, which will take place in November, the regenerative medicines specialist said it will outsource “elements of the production cycle relating to testing and packaging”.
However, it will retain its processing capabilities, including the manufacturing of OrthoPure XT, which is used in ligament reconstruction.
"We remain committed to reducing our overhead cost base to drive us towards a position of break-even,” Tissue Regenix's interim chief executive, Gareth Jones said in a statement.
“Following a review of our near-term activity, this relocation will allow us to reduce our manufacturing footprint and associated costs, whilst importantly protecting the supply of our products.
“We also remain within the Leeds and York area to continue to support our local community and retain our valuable employee base," he added.