IN BRIEF: Tissue Regenix seeks to raise PS5 million from shareholder

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Tissue Regenix Group PLC - Leeds, England-based regenerative medical devices firm - Tissue Regenix says it is in discussion with its major shareholders and has clear indications of support to raise £5 million by way of a convertible loan note. Any fundraise will be subject to shareholder approval. Says a review of its financial position shows that the company has a substantial backlog of creditors, and very limited cash balances. Tissue Regenix says it has an ‘urgent need’ to raise capital by the end of November,‘ adding ’without additional funding the company will not be able to continue to trade.‘

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