Life-saving surgery using novel human tissue products developed in the University of Leeds moved a step nearer today with the announcement of major new funding into the research.

Tissue Regenix, which developed from the University’s faculties of engineering and biological sciences, is developing revolutionary products to meet the growing demand for tissue repair in medical procedures including orthopaedic and heart surgery.

Professors John Fisher and Eileen Ingham

The Tissue Regenix products behave just like native tissue in almost every way – are compatible with all blood and skin types, do not calcify, and are able to regenerate themselves. The potential global market for these products is estimated at between five and ten billion dollars a year – and growing.

The new funding deal will enable the company to further develop its business and concentrate its efforts on bringing its products to the clinic within two to five years. The £685,000 equity finance is being provided by intellectual property commercialisation company IP Group and the White Rose Technology Seedcorn Fund.

Company chairman Professor John Fisher, said: “We are delighted to have secured this funding. It is a major endorsement of our research and development as we prepare our novel tissue products for further testing and – ultimately – regulatory approval and clinical application.”

The company, which was spun out of the University earlier this year with early stage funding from IP Group, is based on research which has received over £2million of funding over five years. The research has been primarily funded by the UK research councils (the Engineering and Physical Sciences Research Council in conjunction with the Biotechnology and Biological Sciences Research Council) and the Children’s Heart Surgery Fund.

Notes for Editors

Founded in May 2006, Tissue Regenix Ltd will produce acellular tissue matrices using novel technologies developed in the world-leading Institute for Medical and Biological Engineering. There is already a strong clinical need for donor tissue in many surgical procedures, not only to restore independence and mobility following injury, but also to save lives. The Tissue Regenix matrices have excellent biocompatibility, immunocompatibility, resistance to calcification, show rapid and successful regeneration in vivo and have the same biomechanical properties as the native tissue to be replaced. The company is initially concentrating on developing products to address important clinical needs in cardiovascular and orthopaedic surgery, for delivery to patients in the clinic in 2-5 years.

IP Group Plc is an intellectual property (IP) commercialisation company that specialises in commercialising university technology. Founded in 2001, IP Group listed on AiM in October 2003 and moved to the Official List in June 2006. It has made two acquisitions to date – Techtran, a company set up to commercialise university intellectual property under a long term contract with the University of Leeds, in 2005 and Top Technology Ventures, an investment adviser to early stage technology venture capital funds, in 2004. The group has formed long-term partnerships with ten universities – the University of Oxford, King’s College London, CNAP/University of York, the University of Leeds, the University of Bristol, the University of Surrey, the University of Southampton, Queen Mary (University of London), the University of Bath and the University of Glasgow.
As at 30 June 2006, 44 spin-out companies had been created among the group’s university partners. Of those, eight have listed on the AiM market of the London Stock Exchange and there have been two trade sales.

For more information visit www.ipgroupplc.com

The White Rose Technology Seedcorn Fund is an early stage seedcorn fund, which invests in exciting new technology emerging from the Universities of York, Leeds and Sheffield.

The £9 million Fund provides venture capital funding of up to £250,000 (and above for exceptional opportunities) to enable the transition from promising research work to commercial reality.Its portfolio of investee companies represent the commercialisation of high quality science and technology combined with professional management teams to produce investor-ready and partner-ready opportunities.

The Fund is owned by the Universities of York, Leeds and Sheffield, and managed by Aberdeen Asset Managers.

For further information, please contact:

Tissue Regenix Ltd: 0870 803 2431
Simon Graindorge, Commercial Director: 0113 384 5861

IP Group plc: 020 7489 5200
Alan Aubrey, Chief Executive Officer
Liz Vaughan-Adams (communications): 020 7489 5206 or 07979 853802

University of Leeds Press Office
Simon Jenkins 07791 333229