US success for Tissue Regenix
TISSUE Regenix has seen its losses for the first half of the year widen but said the period has been the “most exciting in the group’s short history”, with the successful commercial launch of its DermaPure wound healing technology in the US.
The York-based regenerative medical devices company said the launch will allow it to target a market worth $1.4bn a year.
For the six months to July 31, the group reported an expected loss after tax of £3.4m compared to £2.1m last time, resulting from additional development expenditure and establishing the commercial operations in the USA.
Last year Tissue Regenix signed a processing agreement with Community Tissue Services (CTS), one of the largest tissue banks in North America, and signed seven independent regional sales distribution agreements, providing access to an extensive network of more than 40 sales representatives across 25 states.
Antony Odell, CEO of Tissue Regenix, said: “Tissue Regenix has achieved much in the past six months including starting the commercial roll-out of our dCELL DermaPure product in the USA, gaining approval from the MHRA for a UK clinical trial on dCELL meniscus products, progressing our diabetic foot ulcer trial in the US and increasing our global patent portfolio.
“These milestones maintain our planned progress and build successfully on our strategic focus on the wound care and orthopaedic markets, following the positive data from the UK clinical trial into dCELL dermis patches, and our decision to commercialise this product in the USA in 2013.”
He said the launch of DermaPure as its first product in the USA represents “a significant step” for the group.
Tissue Regenix’s DermaPure works by taking human donor skin and removing the DNA and cells, using the patented dCELL process to leave a natural biological scaffold that can be placed in the wound to aid natural healing by attracting the patient’s own cells to the wound area.
