Tissue Regenix has reported a year of significant progress as it lifted revenue, but saw its pre-tax loss for the period widen.
"The growing momentum behind our portfolio of pioneering regenerative medical devices has increased with market adoption," said CEO Antony Odell.
"This is reflected in the financial performance of the business with Group revenue growth of 77%, wound care growth of 64% and initial sales from our German joint venture."
Tissue Regenix's revenue for the year was £1.44m, up from £816,000. Its pretax loss fo the year was £10.95m, from a loss of £10.03m.
"We believe that the progress we have made across each of our business units and the exciting organic growth opportunities afforded by our broad development pipeline of innovative products and the recently signed GPO contracts means that we are well placed for future growth," said Odell.