Tissue Regenix subsidiary nets European distribution deal

Tissue Regenix’s subsidiary CellRight Technologies on Tuesday entered an agreement to allow Arthrex to distribute its proprietary 'BioRinse' bone portfolio throughout Europe.

The AIM traded company said the new agreement, which will initially focus on the UK, builds on an existing US-centric agreement signed between the two parties in March and follows collaborative efforts between Arthrex and Tissue Regenix to evaluate additional business opportunities.

Steve Couldwell, chief executive of Tissue Regenix, said: "I am delighted to announce an extension to our collaboration with Arthrex. Since signing the US distribution agreement in March, we have continued to build a strong alliance, identifying areas where we can work together and leverage the expertise of both companies."

BioRinse is a sterilization technology which uses rinsing agents to eliminate pathogenic microorganisms, spores, and vegetative bacteria, which removes debris, blood, bone marrow, and lipids that are associated with disease transmission.

"This European agreement allows us to exploit not only our ability to import our BioRinse bone portfolio into the UK facility, but also Arthrex' expansive distribution network, another significant milestone towards our vision of building a leading force in regenerative medicine," said Couldwell.

Tissue Regenix’s shares were up 2.07% at 7.40p at 1155 GMT.