Medical tech firm Tissue Regenix has secured a six-year distribution deal that will see one of its key products sold in China.
The Garforth-based firm has partnered with Hong Kong-based medical technology group Kingsung Medical, which is required to buy a minimum unit volume of Tissue Regenix's OrthoPure XT product. The technology is touted as the only non-human biologic graft suitable for certain ligament reconstruction procedures.
Kingsung Medical operates sales teams in 10 cities in China along with channel marketing sales and agents in every province to support clinics. Together, the two firms say they are committed to advancing the clinical study of OrthoPure XT to further the regulatory approval process in China.
Read more: Swedish eyes on the Humber as Stena Line invests with ABP
Daniel Lee, CEO of Tissue Regenix, said: "In the last year, we secured significant geographical partnerships in Germany and Italy and now in China for OrthoPure XT. The market for anterior cruciate ligament reconstruction in China is estimated to be in the range of 200,000-250,000 procedures per year, and this market needs additional graft options.
"As part of the agreement, both parties are committed to the advancement of clinical science surrounding OrthoPure XT as part of the regulatory approval process for this market. We are delighted to be partnering with Kingsung Medical and hope this will be the start of a strong relationship as we continue to expand our geographical footprint into new territories."
Echo Liu, chairman and president of Kingsung Medical Group, said: "Adhering to the development philosophy of 'professional and innovation-oriented', Kingsung Medical has always been committed to providing surgeons and patients with the world's leading new technologies and products with unique clinical value.
"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."
READ NEXT:
Hull tech specialist wins 'significant' Yorkshire Water smart metering contract
Health kick just the ticket for rail supplier Paragon ID as Tommy Coyle swipes in
Fourth generation chair appointed at farm machinery specialist Peacock and Binnington
- Read more Yorkshire and Humber business news here
- Read more technology business news here
