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Medical take-over sparks sales jobs hopes
06/07/2010
This week's reverse take-over by the Tissue Regenix Group of Oxeco Plc could see the creation of jobs in medical sales as the companies work to develop Tissue Regenix’s propriety dCELL Technology.
Tissue Regenix joined London's AIM market and raised £4.5 million through a placing following the deal, which was completed by IP Group portfolio.
The enlarged group is already working on delivery of the company’s lead product, the dCELL Vascular Patch.
The net funds of the group now stands at approximately £7.4 million and the issued share capital on admission will be 466.7 million shares.
Tissue Regenix chairman John Samuel said, "The successful completion of this listing in such testing market conditions underlines the strength of our technology and the size of the market opportunity.
"We now have the capital required to use our dCELL platform to capitalise on the growing global demand for regenerative medical devices," he added.
Tissue Regenix began as a spin-off from the University of Sheffield, focusing its resources on the development and commercialisation of acellular tissue replacement products.
The dCELL Vascular Patch will be implanted permanently into the human body for vascular repair.
Plans are to start marketing and selling the patch in Europe during the second half of 2010, once appropriate equipment sales staff are in place.
Tissue Regenix joined London's AIM market and raised £4.5 million through a placing following the deal, which was completed by IP Group portfolio.
The enlarged group is already working on delivery of the company’s lead product, the dCELL Vascular Patch.
The net funds of the group now stands at approximately £7.4 million and the issued share capital on admission will be 466.7 million shares.
Tissue Regenix chairman John Samuel said, "The successful completion of this listing in such testing market conditions underlines the strength of our technology and the size of the market opportunity.
"We now have the capital required to use our dCELL platform to capitalise on the growing global demand for regenerative medical devices," he added.
Tissue Regenix began as a spin-off from the University of Sheffield, focusing its resources on the development and commercialisation of acellular tissue replacement products.
The dCELL Vascular Patch will be implanted permanently into the human body for vascular repair.
Plans are to start marketing and selling the patch in Europe during the second half of 2010, once appropriate equipment sales staff are in place.
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