Leeds medical device company raises £15m to expand manufacturing capacity

A Leeds medical device company has raised nearly £15m as part of its plan to expand its manufacturing capacity.

Tissue Regenix has raised £14.6m through a share placing, and has completed the placing and subscription of £5.85bn of new ordinary shares with existing and new investors.

The proceeds will be used to fund an expansion of the group’s manufacturing capacity in the US.

Gareth Jones, interim chief executive of Tissue Regenix, commented: “We are extremely pleased with the support shown by both new and existing investors as part of this fundraise.

“We continue to experience strong demand for our products.

“This injection of additional capital will allow for the commencement of the planned manufacturing capacity expansion in the US enabling us to increase the output of our San Antonio facility, unlock additional revenues and realise new partnership opportunities we foresee potentially emerging.

“Not only do we expect this investment to provide the capacity required to scale our business and drive our commercial success, it will also increase the number of patients who can benefit from our broadened product portfolio.”