Tissue Regenix Group Ltd
('Tissue Regenix', the 'Group', or the 'Company')
Update re. review of previous financial position
Tissue Regenix Group Ltd, the regenerative medical devices company, confirms that its Board, at the request of Jay LeCoque Executive Chairman, has carried out a preliminary review of the executive directors' activities during the preparation of the 2024 statutory accounts that were released on 25 June 2025 through the subsequent restatement of earnings that occurred in October 2025. The preliminary review included examining the Company's financial statements and related documents. This review uncovered potentially serious corporate governance concerns that merited further investigation.
These concerns were disclosed in the Company's announcements made on 16 October 2025 and 7 November 2025 and the Board confirmed the urgent need to secure funding for the business to allow it to continue to trade, given the substantial backlog of creditors allowed to accumulate under the previous executive directors and the very limited cash balances of the Group at the time. Due to the Board's concern that the Group was at risk of no longer being a going concern, the shares were suspended from trading on AIM whilst emergency funding was secured.
Now that sufficient funding has been secured to support the Group's ongoing commercial operations, the Board seeks to understand the circumstances that led to the situation described above and the full extent of the corporate governance concerns identified. The Board will undertake an investigation into these matters and will take appropriate action where this is in the best interests of shareholders, including making referrals to relevant authorities or regulatory bodies where such referral is warranted.
The Company will update shareholders and the other interested parties in due course.
For more information, please contact:
| Walbrook PR (Investor Relations) Alice Woodings / Paul McManus |
Tel: +44 (0)20 7933 8780 or [email protected] Mob: +44 (0)7407 804 654 / +44 (0)7980 541 893 |
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About Tissue Regenix (www.tissueregenix.com)
Tissue Regenix is a leading medical device company in regenerative medicine. The Company's patented decellularisation technology (dCELL®) removes DNA and other cellular material from animal and human soft tissue, leaving an acellular tissue scaffold that is not rejected by the patient's body and can be used to repair diseased or damaged body structures. Current applications address many crucial clinical needs in sports medicine, foot and ankle injuries, and wound care.
In August 2017, Tissue Regenix acquired CellRight Technologies®. This biotech company specialises in regenerative medicine and is dedicated to developing high-quality, innovative tissue scaffolds to enhance healing opportunities in defects created by trauma and disease. CellRight's human tissue products may be used in spine, trauma, general orthopaedic, dental and ophthalmological surgical procedures.