Tissue Regenix, which uses animal and human tissue to replace damaged human body parts, announced an annual loss of £6.3m, up from a loss of £4.0m, but said it has made significant progress in taking its development pipeline towards commercial launch.
The York-based company said it has built a strong team in the US that can take its products to market.
The firm said it has successfully completed trials of a new treatment for chronic leg ulcers, in conjunction with NHS Blood and Transplant, in which half of the patients involved had their wounds completely healed.
The firm’s dCELL decellularisation process removes DNA and other cellular material from animal and human tissue leaving a tissue scaffold, which is not rejected by the patient’s body. This can then be used to repair diseased or worn-out body parts.
Tissue Regenix has exclusive access to a range of patents protecting its core process in major markets and is adding to these by working with its technology partner, the University of Leeds.
Antony Odell, chief executive of Tissue Regenix, said: “We are poised to launch our first product in the US, the world’s largest healthcare market, and the team looks forward to continuing to progress the commercialisation of our unique technology.”