UK-based regenerative medicine company Regenerys has announced the acquisition of Altrika from its parent company Ilika.

Altrika, based in Sheffield, South Yorkshire, UK, supplies its cell-based skin regeneration therapies, Myskin and Cryoskin, for the treatment of severe burns and chronic wounds.

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The revenue-generating company also provides bio-processing and bio-banking services to third parties developing advanced cell therapies.

Under the terms of the acquisition, Regenerys will take on all employees and assets, and Altrika’s Sheffield site will continue to operate.

"Under the terms of the acquisition, Regenerys will take on all employees and assets, and Altrika’s Sheffield site will continue to operate."

The acquisition provides Regenerys with necessary quality systems and licenses to operate from the Human Tissue Authority (HTA) and Medicines and Health products Regulatory Agency (MHRA), in addition to qualified scientific personnel to expand its cell bio-processing and bio-banking projects.

Regenerys chairman Dr Bill Mason said the acquisition marks an important development in the company’s profile as a regenerative medicine business.

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"We are committed to providing innovative solutions to both patients and our customers for the natural regeneration of skin, tissue and organs using their own tissue," Mason said.

"This acquisition will enable us to build on our work in the area of breast reconstruction and cosmetic applications using adipose tissue, and extend our reach to the treatment of serious burns and chronic wounds.

"We are particularly pleased to be able to acquire Altrika and their talented scientific staff which will bring a very high level of expertise and quality to our business."