Israeli regenerative medicine developer CollPlant Holdings Ltd. (TASE: CLPT) today announced that it has received Europan CE Mark approval for Vergenix™FG, a gel intended to treat chronic and acute wounds. At midday, the company's share price was up 4.62% on the Tel Aviv Stock Exchange (TASE).
The product utilizes CollPlant's proprietary plant-based rhCollagen technology for tissue repair products. The company expects sales to begin in Europe in the coming months.
CollPlant CEO Yehiel Tal said, “Vergenix™FG is one of the world's first medical devices containing a recombinant collagen sourced from plants. We are now seeking distributors in Europe in order to set up the necessary sales infrastructure, where initial sales are expected to begin in 2016. “
Vergenix™FG leverages CollPlant’s proprietary tobacco plant-based technology, allowing for the large scale production of recombinant human collagen (rhCollagen). Compared to the standard of care which requires multiple, repetitive treatments, Vergenix™FG requires only a single (one-time) treatment offering greater convenience and cost-effectiveness for both the physician and the patient.
As previously reported, clinical trial results demonstrated that Vergenix®FG is safe and effective for use on human subjects and shows excellent wound closure rates.
Published by Globes [online], Israel business news - www.globes-online.com - on February 23, 2016
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