Tissue Therapies could sell wound-healing technology VitroGro by...

Tissue Therapies could sell wound-healing technology VitroGro by 2014, say Bioshares analysts by: Liam Walsh •From: The Courier-Mail •August 12, 2013 12:00AM

TISSUE Therapies could start selling its wound healing technology by next year after being "vindicated" in a "tortuous battle" with European regulators, analysts at Bioshares predict.

Sales in 2014's first half would be later than Brisbane-based Tissue had flagged to the market of a late-2013 launch. But Tissue's earlier guidance had been given before European regulators threw an additional spanner in the works in mid-March this year.

Tissue has developed VitroGro, which is put on to wounds such as ulcers for healing. It had repeated bureaucratic setbacks since last year in its first planned market, Europe, but a decision in late July somewhat cleared the pathway.

A review of data is to be completed.

The problems mimicked other regulatory setbacks that have struck other biotechnology companies.

"There is no such thing as a dream run for medical product developers," Bioshares wrote.

But it said Tissue's nightmare run in Europe appeared to be over.

A stockmarket notice showed major Tissue shareholder Asia Union Investments took advantage of a spike in share prices to sell off a sliver of its stake.