Tissue Regenix Group plc
Leeds, 1 August 2019 - Tissue Regenix Group (AIM:TRX) ("Tissue Regenix" or "The Group") the regenerative medical devices company announces that Chief Executive Officer (CEO), Steve Couldwell, has informed the Board that due to a recurrence of his illness, he has decided to resign his position with immediate effect in order to concentrate on his recovery.
John Samuel, will resume the position of Executive Chairman until a full time CEO appointment is made. Gareth Jones, Chief Operating Officer will take up the position of interim- CEO.
Mike Barker, who has been with the Group since January will continue to support the Executive team as interim Finance Director.
Steve Couldwell, CEO, Tissue Regenix Group commented: "It has been my great privilege and honour to lead Tissue Regenix for two years in the position of CEO. I truly believe in the strength of our technologies, our product portfolio and market strategy. The Company is at such an exciting point of commercial and operational inflection and I remain committed to being available as an adviser and mentor wherever possible."
Executive Chairman, John Samuel, commented: "The Board and I regret the news of Steve's resignation and would like to thank him for his inspirational leadership over the last two years.
With the support of Gareth and Mike, we continue to be well positioned with an experienced Executive team."
For more Information:
Tissue Regenix Group plc
Caitlin Pearson Head of Communications
Tel: 0330 430 3073 / 07920272 441
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)
Jonathan Senior / Alex Price / Ben Maddison
Tel: 0207 710 7600
Brett Pollard / Victoria Foster Mitchell / Mary Whittow
Tel: 0203 727 1000
About Tissue Regenix
Tissue Regenix is a leading medical devices company in the field of regenerative medicine. Tissue Regenix was formed in 2006 when it was spun-out from the University of Leeds, UK. The company's patented decellularisation ('dCELL®') technology removes DNA and other cellular material from animal and human soft tissue leaving an acellular tissue scaffold which is not rejected by the patient's body and can then be used to repair diseased or worn out body parts. Current applications address many critical clinical needs such as sports medicine, heart valve replacement and wound care.
In November 2012 Tissue Regenix Group plc set up a subsidiary company in the United States - 'Tissue Regenix Wound Care Inc.', January 2016 saw the establishment of joint venture GBM-V, a multi- tissue bank based in Rostock, Germany.
In August 2017 Tissue Regenix acquired CellRight Technologies®, a biotech company that specializes in regenerative medicine and is dedicated to the development of innovative osteoinductive and wound care scaffolds that enhance healing opportunities of defects created by trauma and disease. CellRight's human osteobiologics may be used in spine, trauma, general orthopedic, foot & ankle, dental, and sports medicine surgical procedures.
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Quick facts: Tissue Regenix Group PLC
Market Cap: £14.06 m
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