LONDON (ShareCast) - (Sharecast News) - Tissue Regenix announced on Monday that it has won approval from the Irish Health Products Regulatory Authority (HPRA) to establish a logistics hub in Ireland, facilitating the distribution of its allograft products throughout the European Union (EU).
The AIM-traded firm said the milestone would allow it to expand its reach within the EU market.

In addition to the HPRA approval, Tissue Regenix said it had entered into an exclusive distribution agreement with Spineart España to distribute its allograft products in Spain.

Spineart, a privately-held medical device company with a global presence in more than 60 markets, specialises in streamlining surgical procedures by developing innovative solutions for spine surgeons, operating room teams, and patients.

The company said the distribution agreement aligned with its strategy to broaden its market presence and offer advanced allograft products to a broader range of healthcare providers and patients in Spain.

It added that the partnership would leverage Spineart's extensive network and expertise in the medical device sector, further strengthening Tissue Regenix's position in the Spanish market.

"Receiving HPRA approval is a great step for Tissue Regenix, as it will provide a logistics hub for the distribution of our allograft products to the European market," said chief executive officer Daniel Lee.

"Following this, we are delighted to be partnering with Spineart to bring our allograft products to more customers in the EU.

"Spineart has a large global footprint that we hope in time can be leveraged to bring our products to more customers internationally."

At 1127 GMT, shares in Tissue Regenix were up 1.85% at 55p.

Reporting by Josh White for Sharecast.com.

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