5th Nov 2014 08:45
LONDON (Alliance News) - Tissue Regenix Group PLC shares rose early Wednesday after the company said its DermaPure dermal allograft product will now be allowed to be used in US outpatient facilities for Medicare and Medicaid beneficiaries, and will it receive reimbursement for the product.
In a statement, the company said it has been given a Level II Healthcare Common Procedure Coding System product reimbursement Q code by the Centers for Medicare and Medicaid Services, the US Federal Government funded health programme.
"We are delighted to receive the Q code assignment for DermaPure this is an important milestone which allows us to obtain comprehensive reimbursement coverage for DermaPure in outpatient facilities, a key channel where skin substitutes are commonly utilised for wound care," Antony Odell, Chief Executive Officer of Tissue Regenix, said.
Tissue Regenix shares were up 5.1% to 23.385 pence on the back of the news, putting it among the best performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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