Arthrex collaboration extended into Europe
Update | 13 November 2018
Tissue Regenix has signed an additional agreement with Arthrex for pan-European distribution of its BioRinse portfolio, which follows a US agreement signed in March 2018. This provides Tissue Regenix with a significant partner in two key geographies. Arthrex, a global leader in the field of sports medicine, specialises in the marketing of innovative products. Efforts will initially focus on the UK, before gradually launching in other European countries as approvals are gained. The extension of the collaboration should generate material sales growth in the coming years; but, to be conservative, we are maintaining our valuation at £245m (20.9p a share).
|Year-end: December 31||20161||2017||2018E||2019E|
|Adj. PBT (US$m)||(10.9)||(9.7)||(9.3)||(6.7)|
|Net Income (US$m)||(9.9)||(9.4)||(8.6)||(6.2)|
|Adj. EBITDA (US$m)||(10.8)||(10.1)||(8.0)||(5.2)|
13 November 2018
|Shares in issue||1,171m|
|12 month range||5.5-12.2p|
|Primary exchange||AIM London|
Tissue Regenix Group is a regenerative medicine company with a portfolio of soft tissue and bone products and two proprietary platform technologies, dCELL, and BioRinse. Applications include wound care/general surgery, orthopaedics, sports medicine, and dental. Commercialisation of the leading products are underway.
Mick Cooper PhD
+44 (0) 20 3637 5042
+44 (0) 20 3637 5043
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