Tissue Regenix “poised” to become major player

The York-based company, which began trading on AIM last year following its reverse takeover of Oxeco, posted a pre-tax loss of £5.67m for the year to the end of January but is holding £5.89m in cash.

Since becoming a public company, Tissue Regenix has received European approval for its lead product, a patch made from pig tissue used to repair blood vessels. It has started a pilot study looking at the use of the technology to improve skin grafts and is developing a product to help repair knee injuries.

Managing Director, Antony Odell said: “Tissue Regenix made significant progress during 2010. As well as having our first product approved in Europe, I am pleased to report that we have made major strides in the advancement of our broad pipeline of products which are being developed to address major global markets. Entering our second year as a public company, we believe that we are poised to accelerate towards our goal of becoming a major player in regenerative medicine.”

The company was launched five years ago to commercialise dCell, a technology developed at the University of Leeds that stops the body rejecting implanted tissues.