CollPlant jumps on EU wound gel approval

Yehiel Tal

The company's VergenixFG treatment for chronic and acute wounds has received European CE Mark approval.

Israeli regenerative medicine developer CollPlant Holdings Ltd. (TASE: CLPT) today announced that it has received Europan CE Mark approval for VergenixFG, 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, VergenixFG 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.

VergenixFG leverages CollPlants 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, VergenixFG 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 VergenixFG 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

Copyright of Globes Publisher Itonut (1983) Ltd. 2016

 
Yehiel Tal
Yehiel Tal
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