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Regenerative medicine company Tissue Regenix said it had entered a manufacturing collaboration with a healthcare company to develop a new product line that addresses orthopaedic soft tissue repairs.
Tissue Regenix didn't identify the partner, only saying that it was a 'leading top 10 global healthcare company'.
The pact followed collaboration between both company's R&D teams to develop a new product using one of Tissue Regenix's technology platforms .
Processing for the product had begun, and initial orders had been received.
'Over the next two years, it is expected that the product will make a material contribution to the group's top line revenue growth,' the company said.
'This new product line is complimentary to the other soft tissue products processed at the San Antonio facility, and due to operational efficiencies implemented, it is not expected that there will be any impact on the current processing levels of other product lines.'
At 8:01am: (LON:TRX) Tissue Regenix Group PLC share price was +0.15p at 0.83p