LEEDS, United Kingdom--(BUSINESS WIRE)--Tissue Regenix Group plc, a UK- based regenerative medical company (AIM:TRX) announces completion of the acquisition of CellRight Technologies LLC, a US based specialist in regenerative osteoinductive bone scaffolds.
The acquisition, expands the Group’s presence within the US healthcare market and increases US sales by more than double, bringing together two highly complementary technology and product platforms focused on soft-tissue regeneration and regenerative bone matrices, respectively.
TRX has built a portfolio of soft tissue products for use in wound care, orthopaedics and cardiac applications, based on its patented dCELL® Technology with DermaPure, a decellularized dermal allograft for chronic and acute wound care, currently commercialized. CellRight, brings a complementary regenerative technology which is used to turn allograft bone into various malleable applications including, DBM Putty, strips, blocks and fibres, primarily for use in spine, orthopaedics and dental surgeries.
Leveraging the capabilities of CellRight Technologies’ existing tissue bank in San Antonio, TX, Tissue Regenix is set to launch its OrthoPure™ HT, decellularized human tendon, into the U.S. orthopedics market in early 2018, which will initially address anterior cruciate ligament repair. This facility also provides the Group with a purpose built U.S. base to self-manufacture products utilizing its patented dCELL® process.
“The combination of TRX and CellRight Technologies is a crucial step in advancing our regenerative medicine capabilities for patients worldwide,” said Antony Odell, CEO, Tissue Regenix Group. “CellRight’s team have exceptional talent and experience, and their regenerative technology is highly complementary to our own dCELL® soft tissue platform. The benefits of the combined, broad portfolio of innovative soft tissue and bone products is clinically recognised. CellRight and TRX share a common goal and vision. Together, we can expedite and expand our research and development pipelines, increase our market presence both in the US and internationally and create more value for our stakeholders, both clinical and financial. I am pleased to welcome Jesus Hernandez and his team to the Tissue Regenix Group.”
Jesus Hernandez, Founder and CEO, CellRight Technologies: “I am excited to join the TRX team and continue the evolution of the CellRight Technologies products and brand. In TRX we have found a partner that shares our values and commitment to innovation and clinical outcomes. Our combination will allow us to bring our innovative products to a wider patient population and together, commercialise a pipeline of differentiated regenerative treatments.”
Important notice
The information contained herein is not for release, directly or indirectly, in or into Australia, Canada, Japan or the Republic of South Africa. This document (and the information contained herein) does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase securities, in the United States, Australia, Canada, Japan or the Republic of South Africa or any other jurisdiction where such an offer or solicitation would be unlawful. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless the securities are registered under the Securities Act, or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. No public offering of the securities will be made in the United States.
About Tissue Regenix
Tissue Regenix is a leading medical devices company in the field of regenerative medicine. Tissue Regenix was formed in 2006 when it was spun-out from the University of Leeds, UK. The company's patented decellularisation ('dCELL®') technology removes DNA and other cellular material from animal and human soft tissue leaving an acellular tissue scaffold which is not rejected by the patient's body and can then be used to repair diseased or worn out body parts. Current applications address many critical clinical needs such as sports medicine, heart valve replacement and wound care.
In November 2012 Tissue Regenix Group plc set up a subsidiary company in the United States - 'Tissue Regenix Wound Care Inc.', January 2016 saw the establishment of joint venture GBM-V, a multi- tissue bank based in Rostock, Germany.
In August 2017 Tissue Regenix acquired CellRight Technologies®, a biotech company that specializes in regenerative medicine and is dedicated to the development of innovative osteoinductive and wound care scaffolds that enhance healing opportunities of defects created by trauma and disease. CellRight's human osteobiologics may be used in spine, trauma, general orthopedic, foot & ankle, dental, and sports medicine surgical procedures.
