TISSUE REGENIX BEGINS LIFE ON AIM

15 July 2010

Tissue Regenix, the Yorkshire medical business which is developing tissue-repair technology for the human body, began trading on the Alternative Investment Market today following its reverse takeover of Oxeco.

The Leeds University spin-out company believes its innovations could address shortfalls in donor tissue availability.

The deal has seen £4.5m of new funds raised through a placing while a new board has taken control of the enlarged group.

The group has net funds of £7.4m.

Tissue Regenix uses its dCELL technology platform to remove cells and other components from human and animal tissue allowing them to be used without anti-rejection drugs to replace worn out or diseased body parts.

The proceeds of the listing will be used to advance Tissue Regenix’s strategy of using its core dCELL technology as a platform to develop a range of products.

Its board consists of chairman John Samuel, managing director Antony Odell, finance director Michael Bretherton, and Alan Miller, Alex Stevenson and Alan Aubrey as non-executive directors.

Tissue Regenix, which plans to start to sell the dCELL Vascular Patch in Europe during the second half of 2010, sits within IP Group's portfolio.

The next product on which Tissue Regenix plans to focus is the dCELL Meniscus, which will help repair damaged knee meniscus.
 
Tissue Regenix is the fourteenth of intellectual property commercialisation company IP Group's portfolio companies to have listed on either AIM or PLUS Markets and is the second IP Group portfolio company to have achieved a listing this year following Ilika plc's flotation in May.