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

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

Tissue Regenix hit by cyber breach

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.

Also Read: Travelex UK systems are back online after Ransomware attack

Recently, a Staff at foreign exchange firm Travelex were using pen and paper to serve thousands of customers after the company said cyber hackers were holding its systems to ransom, leading to a global blackout on its online currency exchange services.

The currency trader, which also provides forex services for customers of HSBC, Barclays, Virgin Money and the banking arms of British retailers Tesco and Sainsbury, said on Tuesday a software virus identified on Jan. 2 was a ransomware attack.

Also Read: Ransomware: cripples Travelex 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.

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OYAKHILOME OGBETA

Oyakhilome Ogbeta is a web developer and networking engineer. Oyakhilome has more than six years' experience in networking. Oyakhilome has a proven track record in networking/web applications deployment.

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