Tissue repair co CollPlant raises NIS 21.2m

The company also raised NIS 63 million in future options and hopes to bring two products to the European market by 2015.

The share price of CollPlant Holdings Ltd. (TASE: CLPT) rose 5.6% to NIS 0.30 after the company completed raising NIS 3.7 million yesterday at a price of 23% above the minimum set due to surplus demand.

Collplant is engaged in the development and production of medical devices for regenerative medicine for tissue repair based on human collagen. The company raised the NIS 3.7 million from institutions and the public at NIS 0.37 per share with an issue that was 4.5 times oversubscribed. Overall the company raised NIS 21.2 million this month in shares and also raised a further NIS 63 million for the future in options.

Collplant CEO Yehiel Tal said, "We will work to rapidly develop our pipeline of innovative products for a market worth billions of dollars, and for the launching of two products on the European market in 2015 as well as strategic partnerships with multinational companies. The company's management can now concentrate on growth and creating value for shareholders."

Published by Globes [online], Israel business news - www.globes-online.com - on December 24, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018