TIDMTRX

RNS Number : 5009F

Tissue Regenix Group PLC

17 November 2020

Tissue Regenix Group plc

Appointment of CEO

Leeds, 17 November 2020 - Tissue Regenix Group (AIM:TRX) ("Tissue Regenix", the "Company" or the "Group") the regenerative medical devices company, announces that it has appointed Daniel ("Danny") Lee as Chief Executive Officer. Danny joined the Group as President of U.S. Operations in January 2019. Danny will commence his new role and join the Board with immediate effect.

Danny, who resides in the United States, has nearly 30 years' experience in the medical device and biologics industry. Prior to joining the Group in January 2019, Danny was the Chief Executive Officer for Scaffold Biologics and Aperion Biologics. His previous senior management roles included global marketing for OsteoBiologics (acquired by Smith & Nephew Endoscopy in 1996) and marketing activities for Regeneration Technologies (now RTI Surgical), a leading allograft tissue processor. Danny spent the first ten years of his career in R&D with the U.S. Surgical Corporation (now Medtronic). Danny received his B.E.S. degree in Materials Science and Engineering from Johns Hopkins University and his M.S. in Biomedical Engineering from the University of Alabama at Birmingham.

Danny will succeed Gareth Jones, who joined the Company in October 2018 as Chief Financial Officer and was subsequently appointed Interim Chief Executive Officer in August 2019. Gareth will step down from the Board with immediate effect, and plans to remain with the Group until the end of 2020 in order to effect an orderly handover.

Danny Lee, Tissue Regenix's incoming CEO, commented: "I would like to thank Gareth for his leadership during a transitional period for the company. I am honoured to be selected to lead this company. Throughout my career, I have been passionate about building and growing companies in the regenerative medical space. During my tenure at the Company, I have had the opportunity to appreciate the impact created by our proprietary products and the exceptional capabilities of our team. I look forward to continuing the growth of our company in a dynamic market, identifying additional opportunities to innovate, and taking the decisive actions needed to move our business forward."

Interim Chairman, Jonathan Glenn, commented: "I am delighted to welcome Danny to the Board of Tissue Regenix as Group CEO. Since joining us in January 2019, Danny has demonstrated exceptional leadership skills and was the stand out candidate from a thorough external recruitment process. I would also like to thank Gareth who stepped up on an interim basis to CEO in very difficult circumstances and led the business admirably during this period."

For more Information:

 
 Tissue Regenix Group plc                    Tel: 0330 430 
  Caitlin Pearson - Head of Communications    3073 
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 Stifel Nicolaus Europe Limited (Nominated   Tel: 0207 710 
  Adviser and Broker)                         7600 
  Ben Maddison / Alex Price 
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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 (R) ') 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 (R) , 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 orthopaedic, foot & ankle, dental, and sports medicine surgical procedures.

Regulatory disclosures

Daniel Ray Lee (Danny), 59, has been a director or partner of the following companies or partnerships during the past five years:

 
 Current directorships/partnerships   Directorships/partnerships within 
                                       the last 5 years 
 None                                 Scaffold Biologics, Inc 
                                      Aperion Biologics, Inc

There are no further disclosures required in accordance with AIM Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies.

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November 17, 2020 02:00 ET (07:00 GMT)

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