“Regenerative technology with potential. The products developed by Tissue Regenix can replace human body parts, and address markets that today are valued at more than $10bn.” Jefferies International Limited, December 2013. “Tissue Regenix has multiple shots at goal and a strong balance sheet to execute its strategy.” Panmure Gordon, October 2013
“During this period Tissue Regenix Group has made significant progress in operations across both the US and EU, highlighted by a twofold increase in revenue in the US, confirming our ability to successfully commercialise products, whilst also identifying further market entry opportunities.”
During the period to 31 July 2016 the Group has continued to make significant progress in operations across both the US and EU.
Fundamental to this is the growing adoption of DermaPure® in the US Wound Care market, with momentum continuing beyond the initial £0.8m reported for the full year, now reflected in a two fold increase in revenue over the previous comparative period.
This, however, should not overshadow the significant strides made in Europe, with OrthoPure™ XT now increasingly close to a commercial market launch.
The decision to supersede our initial clinical trial for OrthoPure™ XM with a further iteration of the implant should ultimately facilitate its market introduction into Europe, but crucially also assist in the US market launch in the coming years.
Progress in the last six months continues to vindicate our confidence in our product portfolio, both in the marketplace and in the development pipeline.
As the development and expansion of the company continues in line with our ambitions and expectations, we are confident that our results for the full year will reflect this.
Read Chairman's Statement
“Tissue Regenix delivered revenue of £631k during the six months to 31st July 2016, a 150% increase over the comparative period. Our continued focus on adoption and advocacy was rewarded with further Medicare approvals and our first Group Purchasing Order agreement, both significant steps for the continuing success of DermaPure®, and highlights the growing commercial traction DermaPure® has gained within the competitive US wound care market.
Alongside this, we continue to progress with our European market entry and expect to be in a position to launch our first orthopaedic product, OrthoPure™ XT, into this market in H1 2017, with CE mark submission expected to be made a full six months ahead of schedule.
The developing momentum behind our dCELL® Technology product portfolio brings us confidence that we will achieve our year end corporate goals. We look forward to reporting our progress in the coming months.”
Chief Executive Officer
Read Chief Executive’s Review
2 February 2017
DermaPure® added to the Federal Supply Schedule
6 January 2017
View all regulatory news
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© Tissue Regenix Group plc 2017
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