Shares in Tissue Regenix Group PLC (LON:TRX) were on the up in mid-morning trading Tuesday after its subsidiary, CellRight Technologies, expanded its relationship with orthopaedic solutions company Arthrex Inc with a new pan-European distribution agreement.
The AIM-listed firm, which makes devices for regenerative medicine, said the agreement would allow Arthrex to distribute CellRight’s proprietary ‘BioRinse’ portfolio across Europe, with an initial focus on the UK.
The new deal, which will become effective immediately, is an extension of a previous US distribution agreement CellRight and Arthrex signed in March.
CellRight provides osteobiologics for use in orthopaedic, spine and foot, and ankle procedures to enhance healing of defects caused by trauma or disease.
Steve Couldwell, chief executive of Tissue Regenix, said the agreement would allow the company to “exploit not only our ability to import our BioRinse bone portfolio into the UK facility, but also Arthrex' expansive distribution network”.
Shares were up 2% at 7.4p.
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