TSSNF - Tissue Regenix Group says disciplined approach paying off at half-year stage
(NewsDirect)
Tissue Regenix Group PLC (AIM:TRX) chiefexecutive Danny Lee and chief financial officer David Cocke speak toThomas Warner from Proactive London after the regenerative medicinecompany released its interim results for the first six months of 2023.Cocke reports that the company reported a remarkable 19% growth,marking the sixth consecutive period of growth since thepandemic's onset.
Their BioRinseand T-cell segments demonstrated substantial growth, with the formerup by 20% and the latter by 29%. Gross profit increased to 49%, owingto efficiency gains from their Phase One expansion. He suggests thatthe company's growth strategy, driven by a "disciplinedapproach" to supply, sales revenue, sustainability, and scale, hasbeen fundamental to their success.
Lee also discusses the launchof a new product under the BioRinse brand, focused on producing safe,sterile tissue for sports medicine applications in the lucrative USmarket, estimated at approximately $300 million. The new product willprimarily be used for tendon and ligament repairs in joints like theknee, ankle and elbow. Looking ahead, the company remains committed tocontinued growth, both in their core business and expansion into newmarkets, such as the United States.
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