Oct. 4 (Bloomberg) -- Tissue Regenix Group Plc climbed to the highest price in more than four months after the maker of replacement body parts said its dCELL Dermis technology showed encouraging interim test results for healing chronic wounds.
The trial involving 20 patients with conditions such as venous leg ulcers showed a “significant reduction in surface area of chronic wounds after just six weeks,” York, England-based Tissue Regenix said today in a statement.
Tissue Regenix rose 12 percent to 12.625 pence, the highest since May 25 in London. The company had the second-biggest gain among the 51 stocks on the FTSE AIM Health Care Index.
“The results are impressive, although they will need to be confirmed in larger controlled studies to achieve widespread commercial adoption,” Paul Cuddon, an analyst at Peel Hunt, said in a note today. “Full results from the ongoing wound-care trial are expected by the end of the year.”
The dCELL technology involves taking animal tissue and removing cellular material from it that would cause humans to reject the implant. Nine of the people in the trial have been completely healed, while all ulcers were reduced in surface area by an average of 50 percent, the company said.
The treatment allows doctors to use the stripped tissue without anti-rejection drugs to replace worn out or diseased body parts. Once implanted, the cellular scaffold is repopulated with the patient’s own stem cells.
Among products Tissue Regenix is working on is a material from pigs to produce abundant quantities of tissue that may be used to fix injuries such as a torn meniscus in the knees, a tiny tissue tear common to athletes. Tissue Regenix received European approval in August 2010 for its first product, a vascular patch that replaces tissue removed during open-heart surgery.
The operating loss totaled 2.1 million pounds ($3.4 million) in the fiscal first half ended July 31, Tissue Regenix said in a separate statement. The company said it has a “strong pipeline” of products, and it expects the commercialization of some of them next year.
Of the three analysts who share their recommendations on Tissue Regenix with Bloomberg, all advise investors to buy the stock.
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