Tissue Regenix Completes Acquisition of CellRight Technologies
August 09 2017 - 8:09AM
Business Wire
Acquisition expands Tissue Regenix’s U.S.
presence in regenerative medicine with addition of complementary
bone platform and supports upcoming orthopaedics launch
Tissue Regenix Group plc, a UK- based regenerative medical
company (AIM:TRX) announces completion of the acquisition of
CellRight Technologies LLC, a US based specialist in regenerative
osteoinductive bone scaffolds.
The acquisition, expands the Group’s presence within the US
healthcare market and increases US sales by more than double,
bringing together two highly complementary technology and product
platforms focused on soft-tissue regeneration and regenerative bone
matrices, respectively.
TRX has built a portfolio of soft tissue products for use in
wound care, orthopaedics and cardiac applications, based on its
patented dCELL® Technology with DermaPure, a decellularized dermal
allograft for chronic and acute wound care, currently
commercialized. CellRight, brings a complementary regenerative
technology which is used to turn allograft bone into various
malleable applications including, DBM Putty, strips, blocks and
fibres, primarily for use in spine, orthopaedics and dental
surgeries.
Leveraging the capabilities of CellRight Technologies’ existing
tissue bank in San Antonio, TX, Tissue Regenix is set to launch its
OrthoPure™ HT, decellularized human tendon, into the U.S.
orthopedics market in early 2018, which will initially address
anterior cruciate ligament repair. This facility also provides the
Group with a purpose built U.S. base to self-manufacture products
utilizing its patented dCELL® process.
“The combination of TRX and CellRight Technologies is a crucial
step in advancing our regenerative medicine capabilities for
patients worldwide,” said Antony Odell, CEO, Tissue Regenix Group.
“CellRight’s team have exceptional talent and experience, and their
regenerative technology is highly complementary to our own dCELL®
soft tissue platform. The benefits of the combined, broad portfolio
of innovative soft tissue and bone products is clinically
recognised. CellRight and TRX share a common goal and vision.
Together, we can expedite and expand our research and development
pipelines, increase our market presence both in the US and
internationally and create more value for our stakeholders, both
clinical and financial. I am pleased to welcome Jesus Hernandez and
his team to the Tissue Regenix Group.”
Jesus Hernandez, Founder and CEO, CellRight Technologies: “I am
excited to join the TRX team and continue the evolution of the
CellRight Technologies products and brand. In TRX we have found a
partner that shares our values and commitment to innovation and
clinical outcomes. Our combination will allow us to bring our
innovative products to a wider patient population and together,
commercialise a pipeline of differentiated regenerative
treatments.”
Important notice
The information contained herein is not for release, directly or
indirectly, in or into Australia, Canada, Japan or the Republic of
South Africa. This document (and the information contained herein)
does not contain or constitute an offer of securities for sale, or
solicitation of an offer to purchase securities, in the United
States, Australia, Canada, Japan or the Republic of South Africa or
any other jurisdiction where such an offer or solicitation would be
unlawful. The securities referred to herein have not been and will
not be registered under the U.S. Securities Act of 1933, as amended
(the "Securities Act"), and may not be offered or sold in the
United States unless the securities are registered under the
Securities Act, or pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act. No public offering of the securities will be made
in the United States.
About Tissue Regenix
Tissue Regenix is a leading medical devices company in the field
of regenerative medicine. Tissue Regenix was formed in 2006 when it
was spun-out from the University of Leeds, UK. The company's
patented decellularisation ('dCELL®') technology removes DNA and
other cellular material from animal and human soft tissue leaving
an acellular tissue scaffold which is not rejected by the patient's
body and can then be used to repair diseased or worn out body
parts. Current applications address many critical clinical needs
such as sports medicine, heart valve replacement and wound
care.
In November 2012 Tissue Regenix Group plc set up a subsidiary
company in the United States - 'Tissue Regenix Wound Care Inc.',
January 2016 saw the establishment of joint venture GBM-V, a multi-
tissue bank based in Rostock, Germany.
In August 2017 Tissue Regenix acquired CellRight Technologies®,
a biotech company that specializes in regenerative medicine and is
dedicated to the development of innovative osteoinductive and wound
care scaffolds that enhance healing opportunities of defects
created by trauma and disease. CellRight's human osteobiologics may
be used in spine, trauma, general orthopedic, foot & ankle,
dental, and sports medicine surgical procedures.
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Tissue Regenix Group plcCaitlin Pearson, 07920 272
441Corporate Communications DirectororRacepoint
GlobalJeff Stoecker, +1-617-624-3424
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