Medical technology company Tissue Regenix has been acquired by Oxeco in a £12 million reverse takeover.

The transaction will see York-based Tissue Regenix join the Alternative Investment Market, the London Stock Exchange’s market for fast-growth companies. London-based Oxeco is a growth and development company for businesses in the science and technology sector.

Tissue Regenix develops and produces synthetic replacement human tissue products for medical uses such as surgery. The company plans to use the proceeds of the deal to market and develop its patented dCell technology, which produces transplant tissues without the need for anti-rejection drugs.

John Samuel, Tissue Regenix’s chairman, says: ‘We now have the capital required to use our dCELL platform to capitalise on the growing global demand for regenerative medical devices.’