Tissue Regenix wins extra US coverage for DermaPure

Tissue Regenix Group on Thursday secured additional coverage with a US Group Purchasing Organization (GPO) for the use of DermaPure, a chronic wound treatment product.

The AIM traded biotechnology company said that additional coverage will open up access to a further 1,500 hospitals and 32,500 alternative care providers, primarily in the South Eastern region of the US, bolstering the commercial opportunity in Florida, the second most significant state when it comes to the use of biological tissues such as the DermaPure product.

This expansion builds on the contracts with the two largest GPOs in the US, Premier and Vizient, with the addition of the new agreement increasing potential DermaPure availability into 95% of institutions that purchase through large GPO networks.

This is a fundamental facet of the group's strategy and allows patients and physicians the potential to access the clinical and health economic benefits provided by DermaPure, according to Tissue Regenix.

Gareth Jones, interim chief operating office of Tissue Regenix, said: "Another successful approval from a GPO reflects the positive changes we made to our commercial sales strategy where we realigned our efforts to drive adoption directly in the hospital space. This recent approval will provide a more regional focus across the US landscape, furthering our US market penetration efforts."

Tissue Regenix Group's shares were up 4.91% at 6.95p at 1629 BST.