CollPlant reports commercialization underway

CollPlant tobacco greenhouse, photo:PR

First orders under the agreement with Arthrex have been supplied. CollPlant is also developing a collagen-based biological ink for use in 3D printing of organs and tissues.

CollPlant Holdings Ltd. (TASE: CLPT), which develops tissue repair products on the basis of its proprietary plant-based rhCollagen technology, reported in it sannual financials that it has supplied first orders to Arthrex GMBH of VergenixSTR, its CE Mark-approved treatment for tendinopathy. In November 2016, CollPlant announced the signing of an exclusive distribution with Arthrex GMBH, an affiliate of Arthrex Inc., based in Naples, Florida, for distribution of VergenixSTR in Europe. Additionally, since mid-2016, CollPlant has signed a number of marketing agreements for VergenixFG, its wound care product, covering Italy, Switzerland and Turkey. Commercial treatments have been completed over several months in Switzerland and Italy, and the company reports that physicians’ feedback of patient results has been very positive.

CollPlant has also reported extensively for the first time on the development of its collagen-based biological ink, bioInk, for use in 3D printing of organs and tissues. Specifically, the company is developing rhCollagen-based bioInk formulations for indications including skin, orthopedics, ophthalmology, heart and lung. The company's goal for the coming year includes working with a strategic international partner to further develop a specific indication of this product.

CollPlant reported a loss of NIS 27.9 million for 2016, which compares with a loss of NIS 18.7 million for 2015. R&D expenditure totaled NIS 29.2 million in 2016 and NIS 22.9 million in 2015. Revenue in 2016 was NIS 292 thousand.

Published by Globes [online], Israel business news - www.globes-online.com - on April 2, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

CollPlant tobacco greenhouse, photo:PR
CollPlant tobacco greenhouse, photo:PR
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