Tissue Regenix Group (TRX)

Sector:

Financials

Index:

FTSE AIM All-Share

62.80p
   
  • Change Today:
    -0.20p
  • 52 Week High: 71.50
  • 52 Week Low: 49.00
  • Currency: UK Pounds
  • Shares Issued: 70.57m
  • Volume: 100
  • Market Cap: £44.32m
  • RiskGrade: 22

Tissue Regenix signs exclusive distribution deal in China

By Josh White

Date: Wednesday 18 Jan 2023

LONDON (ShareCast) - (Sharecast News) - Regenerative medical device company Tissue Regenix has signed an exclusive distribution agreement with Kingsung Medical Group, a Hong Kong-based medical enterprise, for the distribution of 'OrthoPure XT' in China, it announced on Wednesday.
The AIM-traded firm said the initial agreement would be for six years, and would require Kingsung Medical to purchase a minimum unit volume each year to maintain its exclusive status.

As part of the deal, Kingsung Medical and Tissue Regenix would be mutually committed to advancing the clinical study of OrthoPure XT to further support the regulatory approval process in China.

Tissue Regenix described Kingsung Medical as a medical technology group that integrates production, development and sales to provide medical technologies with "exclusive" value and service.

It has direct sales teams in 10 cities in China, as well as channel marketing sales and agents in every province to support clinics.

The OrthoPure XT decellularised xenograft ligament, meanwhile, uses Tissue Regenix's patented 'dCELL' technology, and is the only available, non-human biologic graft indicated for certain ligament reconstruction procedures.

It said the CE-marked product can be used for the revision of anterior cruciate ligament (ACL) reconstruction procedures, and the reconstruction of other knee ligaments, including multi-ligament and primary procedures when an autograft was not an option.

"In the last year, we secured significant geographical partnerships in Germany and Italy and now in China for OrthoPure XT," said chief executive officer Daniel Lee.

"The market for ACL reconstruction in China is estimated to be in the range of 200,000 to 250,000 procedures per year, and this market needs additional graft options."

Lee said that as part of the agreement, both parties were committed to the advancement of clinical science surrounding OrthoPure XT as part of the regulatory approval process for the market.

"We are delighted to be partnering with Kingsung Medical and hope this will be the start of a strong relationship as we continue to expand our geographical footprint into new territories."

At 1443 GMT, shares in Tissue Regenix Group were up 5.63% at 0.68p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

TRX Market Data

Currency UK Pounds
Share Price 62.80p
Change Today -0.20p
% Change -0.32 %
52 Week High 71.50
52 Week Low 49.00
Volume 100
Shares Issued 70.57m
Market Cap £44.32m
RiskGrade 22

TRX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
41.78% below the market average41.78% below the market average41.78% below the market average41.78% below the market average41.78% below the market average
60% below the sector average60% below the sector average60% below the sector average60% below the sector average60% below the sector average
Price Trend
80.46% above the market average80.46% above the market average80.46% above the market average80.46% above the market average80.46% above the market average
72.41% above the sector average72.41% above the sector average72.41% above the sector average72.41% above the sector average72.41% above the sector average
Income Not Available
Growth
18.01% above the market average18.01% above the market average18.01% above the market average18.01% above the market average18.01% above the market average
14.02% above the sector average14.02% above the sector average14.02% above the sector average14.02% above the sector average14.02% above the sector average

TRX Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
08:56 100 @ 62.70p

TRX Key Personnel

CEO Daniel Lee
CFO David Cocke

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