MEDICAL group Tissue Regenix has continued its programme of investment and expansion as it maintains a fast pace in its development.
The AIM-listed company completed a £19m fundraising in February which laid the platform for a successful first half of the year and has moved to a new EU manufacturing site in Swillington, Leeds.
“Tissue Regenix has made significant commercial progress throughout the last six months, achieving corporate milestones either ahead of, or on target,” said Antony Odell, chief executive of Tissue Regenix Group.
“With the important investments that we have made in establishing our new manufacturing facilities and corporate offices, Tissue Regenix now has the infrastructure and capacity to capitalise on the exciting commercial opportunities ahead.”
It is enjoying “continued commercial success” in the USA for one of its wound care products, DermaPure, which is now available under Medicare in 31 states. Its growth is being driven by an established sales team, working alongside an expanding distributor network.
The investments in infrastucture and product development did result in an 8% increase in its operating loss to £4.1m in the six months to July.
Tissue Regenix was formed in 2006 when it was spun-out from the University of Leeds and the company commercialises academic research conducted by its partners around the world.
