Tissue Regenix Group plc announced first step towards the commercialisation of human dCELL heart valves and DermaPure in the EU through a Joint Venture Agreement with German tissue bank. The establishment of the JVA is an important milestone in the group's overall commercialisation strategy, allowing Tissue Regenix to licence its patented dCELL technology process for human tissue for the first time in the EU, in anticipation of bringing to market a portfolio of decellularised human tissue treatments subject to regulatory approval. Entering the JVA with GTM-V, who will be responsible for sourcing the donated tissue, the Group will be making an initial investment of €250,000 under the JVA to fund development and distribution.

The JVA allows Tissue Regenix to work with an accomplished group of individuals at GBM-V, with over 20 years of tissue medicine experience, who will produce and distribute the Group's decellurised tissue treatments in accordance with German regulations. The regulatory submissions to the German authorities to obtain approval are being prepared by GBM-V and the Group currently anticipates launch of its treatments under the JVA initially in Germany in 2017, with European wide distribution to follow. Importantly, this is the first licence Tissue Regenix has granted for decellularised human heart valves, which is supported by 10 years of clinical data from Professor Francisco da Costa's pioneering work at the Pontifical Catholic University of Paraná (PUCPR), Brazil, validating the safety and success of the treatment. GBM-V's experience will also be important to the Group in developing improvements to human tissue applications of the dCELL technology.