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(Sharecast News) - Tissue Regenix warned on Friday that it urgently needs to raise fresh capital to remain in business, after uncovering a significant creditor backlog and limited cash reserves.
The regenerative medical devices company said it must secure funding by the end of November or it will be unable to continue trading.
It followed the temporary suspension of its shares on AIM and a review by the company's new senior leadership team into previously-disclosed accounting restatements for the 2024 financial year.
The review also examined the impact of those restatements on first-half 2025 adjusted EBITDA and the company's cash position.
Tissue Regenix said it was in active discussions with major shareholders and had received "clear indications of support" for a proposed 5m fundraising through a convertible loan note.
Any deal would require shareholder approval.
The company said it will provide further updates in due course.
Reporting by Josh White for Sharecast.com.
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