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Tissue Regenix Group PLC on Wednesday said it signed an exclusive agreement with Hong Kong-based Kingsung Medical Group for the distribution OrthoPure XT across China.
The Leeds, England-based regenerative medical device company said OrthoPure XT is a decellularised xenograft ligament, which utilises Tissue Regenix’s patented dCELL technology.
It said it is the only available, non-human biologic graft indicated for certain ligament reconstruction procedures.
The initial agreement is for six years and requires Kingsung Medical to purchase a minimum unit volume per year to maintain its exclusive status.
Kingsung Medical has direct sales teams in 10 cities across China, alongside channel marketing sales and agents in every province to support clinics.
As part of the agreement, Tissue Regenix and Kingsung Medical are mutually committed to advancing the clinical study of OrthoPure XT to support the regulatory approval process in China.
‘In the last year, we secured significant geographical partnerships in Germany and Italy and now in China for OrthoPure XT. The market for ACL reconstruction in China is estimated to be in the range of 200,000 to 250,000 procedures per year, and this market needs additional graft options,’ said Tissue Regenix Chief Executive Officer Daniel Lee.
Echo Liu, Kingsung Medical chair, added: ‘With the rapid development of sports medicine in China, we are delighted to introduce OrthoPure XT to the Chinese market. We will accelerate the registration and launch of OrthoPure XT in China and promote its emergence as a new option to allow patients with knee ligament injuries to achieve excellent treatment results earlier.
‘We firmly believe that this new technology will inject impetus into the development of China’s healthcare industry and benefit more patients.’
Shares in Tissue Regenix were up 7.3% to 0.69 pence each in London on Wednesday after midday.
By Greg Rosenvinge, Alliance News reporter
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