New location for listed life sciences company revealed
Life sciences business, Tissue Regenix Group, has confirmed it will relocate its UK head office and manufacturing facilities to Phoenix Court in Garforth, in November 2020.
It says the strategic decision to relocate its UK operations from nearby Astley Lane Industrial site, Swillington, was made as part of the ongoing overhead cost saving initiatives being implemented by Tissue Regenix.
The move to Phoenix Court, Garforth, is expected to reduce the Group’s overhead spend by over £400,000 on an annualised basis from 2021.
Gareth Jones, interim CEO, Tissue Regenix
As part of the relocation programme, the Group will outsource elements of the production cycle relating to testing and packaging, but will retain its processing capabilities including the manufacturing of OrthoPure® XT.
Gareth Jones, interim chief executive officer of Tissue Regenix, said: “We remain committed to reducing our overhead cost base to drive us towards a position of break-even.
“Following a review of our near-term activity, this relocation will allow us to reduce our manufacturing footprint and associated costs, whilst importantly protecting the supply of our products.
“We also remain within the Leeds and York area to continue to support our local community and retain our valuable employee base.
“I am pleased we have successfully identified an action plan that addresses these criteria.”
