Chinese distribution agreement for OrthoPure® XT
18/01/2023 07:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230118:nRSR0306Na&default-theme=true
RNS Number : 0306N Tissue Regenix Group PLC 18 January 2023
Tissue Regenix Group plc
('Tissue Regenix', the 'Company' or the 'Group')
Chinese distribution agreement secured for OrthoPure® XT
Tissue Regenix (AIM: TRX), the regenerative medical device company, announces
that it has signed an exclusive distribution agreement with Kingsung Medical
Group (Kingsung Medical), a Hong Kong-based medical enterprise, for the
distribution of OrthoPure® XT in China.
The initial agreement is for six years and requires Kingsung Medical to
purchase a minimum unit volume each year to maintain its exclusive status. As
part of the agreement, Kingsung Medical and Tissue Regenix are mutually
committed to advancing the clinical study of OrthoPure® XT to further support
the regulatory approval process in China. Kingsung Medical is a medical
technology group that integrates production, development and sales to provide
world-leading medical technologies with exclusive value and service. It has
direct sales teams in 10 cities in China as well as channel marketing sales
and agents in every province to support clinics.
The OrthoPure® XT decellularised xenograft ligament utilises Tissue Regenix's
patented dCELL® technology and is the only available, non-human biologic
graft indicated for certain ligament reconstruction procedures. The CE-marked
OrthoPure® XT can be used for the revision of anterior cruciate ligament
(ACL) reconstruction procedures and reconstruction of other knee ligaments,
including multi-ligament and primary procedures when an autograft is not an
option.
Daniel Lee, CEO of Tissue Regenix, commented: "In the last year, we secured
significant geographical partnerships in Germany and Italy and now in China
for OrthoPure® XT. The market for ACL reconstruction in China is estimated to
be in the range of 200,000-250,000 procedures per year, and this market needs
additional graft options. As part of the agreement, both parties are committed
to the advancement of clinical science surrounding OrthoPure® XT as part of
the regulatory approval process for this market. We are delighted to be
partnering with Kingsung Medical and hope this will be the start of a strong
relationship as we continue to expand our geographical footprint into new
territories."
Echo Liu, Chairman and President of Kingsung Medical Group, stated: "Adhering
to the development philosophy of 'professional and innovation-oriented',
Kingsung Medical has always been committed to providing surgeons and patients
with the world's leading new technologies and products with unique clinical
value.
"With the rapid development of sports medicine in China, we are delighted to
introduce OrthoPure® XT to the Chinese market. We will accelerate the
registration and launch of OrthoPure® XT in China and promote its emergence
as a new option to allow patients with knee ligament injuries to achieve
excellent treatment results earlier.
"We firmly believe that this new technology will inject impetus into the
development of China's healthcare industry and benefit more patients."
For more information:
Tissue Regenix Group plc www.tissueregenix.com (http://www.tissueregenix.com)
David Cocke, Chief Financial Officer Via Walbrook PR
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker) Tel: +44(0)20 7710 7600
Ben Maddison / Nick Harland / Kate Hanshaw
Walbrook PR Ltd Tel: +44(0)20 7933 8780
Alice Woodings / Lianne Applegarth TissueRegenix@walbrookpr.com
About Tissue Regenix (www.tissueregenix.com)
Tissue Regenix is a leading medical device company in the field of
regenerative medicine. 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 damaged body
structures. Current applications address many critical clinical needs in
sports medicine, foot and ankle and wound care.
In August 2017, Tissue Regenix acquired CellRight Technologies®, a biotech
company that specialises in regenerative medicine and is dedicated to the
development of innovative osteoinductive and wound care scaffolds, which
enhance healing opportunities of defects created by trauma and disease.
CellRight®'s human osteobiologics may be used in spine, trauma, general
orthopaedic, dental and ophthalmological surgical procedures.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END AGREAKFXFLPDEFA