Tissue Repair Ltd. announced it continues to make good progress on its core objective of entering and conducting a Phase III clinical trial with its lead drug candidate TR-987 in line with its recently lodged prospectus. The Company provides the following update on its activities since lodgment of its prospectus. TR-987 Chronic Wound Drug Development: The Company has successfully completed manufacturing of two pilot batches of API (Glucoprime) under contract manufacturer, Sequens. The Company has achieved equivalency across two measures so far (molecular weight and potency) with both pilot batches compared to the reference API which was used in the Phase IIB trial program. Data on manufacturing consistency is a core requirement for the dossier required to be filed to the US Food and Drug Administration (FDA) as the Company seeks approval to enter a Phase III clinical trial program. The Company is on track to complete its manufacturing of GMP-grade API in 2022 and this material will be used to formulate the drug product for use in the Phase III clinical trials. TR Pro+ Aesthetic Product Commercialisation: The Company has commenced a prelaunch market research program with relevant healthcare professionals including dermatologists and other specialist cosmetic clinicians. The qualitative stream of the research demonstrated a positive response to the product concept and clinical data and provided additional clarity around the marketing mix. The Company is on track to commence its real-world trial of TR Pro+ in 2022 which will aim to solicit feedback from physicians and patients and establish a foundation to support further marketing initiatives. The Company remains confident in the potential of TR Pro+ to meet the needs of doctors and patients.