If the project succeeds, the parties will negotiate exclusive rights to the products.
CollPlant Holdings Ltd. (TASE: CLPT) has signed an agreement with Edwards LifeSciences Corporation (NYSE: EW) to jointly develop prototypes of two proprietary collagen-based cardiovascular products. CollPlant develops human collagen derived from tobacco plants, and Edwards LifeSciences develops heart valves and hemodynamic monitoring products.
Edwards LifeSciences will bear the development costs of the project, as well as certain developments by CollPlant, based on milestones set by the companies. If the project is successful completed, the two companies will negotiate an expanded cooperation agreement to complete development of the products and market them, including granting Edwards LifeSciences exclusive rights to products for certain uses.
CollPlant's share price fell 0.3% by midday to NIS 1.32, giving a market cap of NIS 132 million.
Published by Globes [online], Israel business news - www.globes-online.com - on December 28, 2010
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