LONDON (ShareCast) - (Sharecast News) - Regenerative medical devices company Tissue Regenix Group has been granted a Human Tissue Authority (HTA) license to import and distribute its portfolio of human tissue derived products from the US for use in the UK market, it announced on Monday.
The AIM-traded firm said that, to drive commercial execution, it also signed a long term, non-exclusive UK distribution agreement with Pennine Healthcare.

It said the HTA license would initially be used for the import of the CellRight 'BioRinse' portfolio of osteoinductive bone products from the San Antonio, Texas manufacturing facility into the UK.

The board added that demand for osteoinductive regenerative medicine continued to increase in the UK.

In order to access that market effectively, it signed a three-year, non-exclusive distribution agreement with Pennine.

Tissue Regenix described Pennine as "one of the UK's leading" privately-owned manufacturers and distributors of medical devices.

With an established presence in the UK orthopaedic market, it said the agreement with Pennine would enable Tissue Regenix to further penetrate the UK orthopaedic spine market.

Under the terms of the agreement, Pennine would have access to the Tissue Regenix portfolio of novel bone and soft tissue products, which would complement Pennine's existing range of spinal implants.

"Receiving the HTA license is a pivotal milestone as we complete the integration of CellRight into the group," said Tissue Regenix chief executive officer Steve Couldwell.

"This allows us to import the BioRinse portfolio in to the UK and ultimately, over time, distribute throughout Europe to meet increasing demand for our novel regenerative medicines.

"The HTA license provides the flexibility to import, store and distribute our portfolio of innovative products, a key commercial growth driver for the group in the future."

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