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Hardman & Co

Tissue Regenix Group Plc Addressing woundcare in the US

Hardman & Co ReportTissue Regenix Group Plc (LON:TRX) has a broad portfolio of regenerative medicine products developed from decellularised human and porcine tissues for the wound care, orthopaedics, and cardiac markets. Sales of DermaPure have continued to gain traction in the US following launch in 2014 – growth in 1H 2016 was +128%. Since launch, the focus has been on expanding Medicare coverage, but recent news has been about increasing access into both in- and out-patient populations through GPOs and the Veterans Association. This further strengthens DermaPure’s commercial position, in line with the company’s strategy, and underpins our forecasts for fiscal 2017.
Strategy: To build a regenerative medicine business with a portfolio of products using the dCELL platform, underpinned by compelling clinical and economic outcomes designed to drive higher adoption rates, whilst retaining the strategic and corporate flexibility that the three therapeutic corporate entities provide.

Patient coverage: Over the last 12 months, TRX has been increasing steadily the number of US states where DermaPure is eligible for Medicare reimbursement: it is covered in 47 states, representing 93% of traditional Medicare out-patient beneficiaries. Now, DermaPure is also reaching in-patients via GPO contracts.

US Federal Supply Schedule: Recently, DermaPure has been added to the US Department of Veteran Affairs Federal Supply Schedule (FSS), via the Veteran’s Health Medical Supply with whom it has a distribution agreement. Veterans comprise a large segment of the wound care market – ca.25% have diabetes – and the FSS covers almost nine million people.

Innovative Technology Contract: Availability of DermaPure has also been enhanced through the award of an Innovation Technology contract from Vizient, the largest member-owned healthcare company in the US. Such awards are reserved for new technologies that are proven to improve clinical outcomes.

Conclusion: Recent news has all been positive for Tissue Regenix Group Plc DermaPure. The last 12 months has been characterised by maximising availability of the product in the US market, initially targeting Medicare coverage, which now stands at 93%. Latterly, further expansion to in- and out-patient populations has been accompanied by technology awards. DermaPure enters fiscal 2017 on a very strong footing.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.