Tissue Repair’s Losses Narrow Amid Clinical Trial Recruitment Hurdles
Tissue Repair Ltd reported a 54.5% increase in revenue for the half-year ended December 2025, alongside a reduced loss, as it expands distribution of its flagship wound healing product TR Pro+® through a new partnership with Advanced Cosmeceuticals.
- 54.5% revenue increase to $305,820
- Loss after tax reduced to $2.17 million
- Multi-year distribution deal with Advanced Cosmeceuticals launched
- Production of new TR Pro+® formats planned for March 2026
- Ongoing Phase III clinical trials with recruitment challenges
Financial Performance and Revenue Growth
Tissue Repair Ltd has reported a notable 54.5% increase in revenue to $305,820 for the half-year ended 31 December 2025, compared to the same period last year. Despite this growth, the company remains in a loss position, with a net loss after tax of $2.17 million, an improvement from the $2.56 million loss recorded in the prior corresponding period. The company’s cash reserves stood at $8.29 million at the end of December, down from $12.32 million six months earlier, reflecting increased operating cash outflows as Tissue Repair scales its operations.
Strategic Distribution Partnership
A key highlight of the period was the signing of a multi-year distribution agreement with Advanced Cosmeceuticals Pty Ltd, Australia’s leading aesthetics and cosmeceutical skincare distributor. This partnership significantly expands Tissue Repair’s market reach, enabling TR Pro+® to be marketed across more than 2,500 clinics, including dermatology, aesthetic, and plastic surgery practices, as well as pharmacies and online retail platforms in Australia and New Zealand. Advanced Cosmeceuticals’ close ties with Wesfarmers, owner of Priceline and Silk Clinics, position Tissue Repair for rapid commercial rollout.
Product Development and Manufacturing Plans
To support this expanded distribution, Tissue Repair plans to release TR Pro+® in four new formats ranging from 10g to 200g professional-use sizes, targeting both clinical and retail markets. The first production batch of these TGA-listed products is scheduled for March 2026. Additionally, the company is evaluating onshore manufacturing partnerships to reduce operational risks and improve supply chain resilience, with a preferred Australian manufacturer shortlisted based on regulatory and technical capabilities.
Clinical Trials and Regulatory Progress
On the clinical front, Tissue Repair continues to advance its Phase III trials for TR987, targeting chronic wound treatment. The US-based BG002 trial has enrolled 37 patients across 21 sites, aiming for 100 patients by mid-2026 to enable interim analysis. Recruitment has faced challenges, but recent protocol adjustments and a favourable Medicare policy change are expected to improve enrolment. The BG003 trial in Australia and the US has enrolled nine patients but is currently deprioritised in favour of BG002. Regulatory efforts include ongoing biocompatibility testing and preparation for FDA 510(k) and CE Mark submissions.
Research Pipeline and Future Outlook
Beyond TR Pro+, Tissue Repair is developing several next-generation products, including TR Renew Serum for skin maintenance, TR Med wound care gel, TR S silicone-based scar management gel, and TR Ferrin for bruise reduction. These initiatives, supported by collaborations with TripPak Pharmaceuticals, aim to broaden the company’s therapeutic portfolio with locally manufactured, high-impact products.
Bottom Line?
As Tissue Repair transitions from development to commercialisation, the success of its distribution partnership and clinical trials will be pivotal to its future growth trajectory.
Questions in the middle?
- How will recruitment challenges in clinical trials impact regulatory approval timelines?
- What are the financial implications of shifting manufacturing onshore for Tissue Repair?
- How quickly can revenue growth accelerate under the new distribution agreement?
