Tissue Regenix shares fall after U.S. manufacturing hit by cyber breach

[January 28, 2020]    (Reuters) - Medical products maker Tissue Regenix Group said on Tuesday its computer systems and a third-party IT service provider in the United States were accessed without authorization, sending its shares down as much as 22%.

The company said it had taken the affected systems offline, appointed external specialists to investigate the incident and was in talks with relevant legal authorities, but did not provide details on when the incident occurred or came to light.

The Leeds-based company's ability to manufacture at its U.S. facility will be hit in the short term while the investigation continues, it said, adding that the incident is not believed to have affected its UK operations or financial systems.

Tissue Regenix, which was formed in 2006 when it was spun-out from the University of Leeds, develops a special kind of tissue that is not rejected by a patient's body and can be used to repair diseased or worn out body parts.

The company said it was yet to quantify any potential financial hit from the hack. Tissue Regenix set up its U.S. unit in late 2012.

Its shares, listed on London's junior AIM market, recovered some losses to trade down 14.3% at 1.05 pence as of 1032 GMT.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Saumyadeb Chakrabarty, Bernard Orr)

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