REHOVOT, Israel, Feb. 14, 2020 /PRNewswire/
-- CollPlant (NASDAQ: CLGN) (the
"Company"), a regenerative and aesthetic medicine company,
announced it has entered into definitive agreements for up to
$4.45 million. The capital raise is
by way of a non-brokered private placement with U.S. accredited
investors who have many years of deep experience in medical and 3D
printing.
In connection with the offering, the Company will issue 445,000
American Depositary Shares (ADSs) of the Company at a price of
$10.00 per ADS. The transaction does
not include any warrants. The closing of the offering is expected
to take place within seven business days, subject to the
satisfaction of customary closing conditions.
"We are proud to welcome U.S. investors who have substantial
knowledge of the primary activity areas of CollPlant and are in
alignment with our corporate strategy," stated Yehiel Tal, the Chief Executive Officer of
CollPlant. "We intend to use these funds to continue to develop
groundbreaking treatment options for patients through our
recombinant human collagen (rhCollagen) technology platform. We
look forward to sharing additional company updates on our clinical
development programs and strategic partnerships in future
announcements."
The securities described above are being offered and sold in a
private placement under Section 4(a)(2) of the Securities Act of
1933, as amended and Regulation D promulgated thereunder, and may
not be offered or sold in the United
States absent registration with the SEC or an applicable
exemption from such registration requirements.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein. There shall not be any offer, solicitation of an offer to
buy, or sale of securities in any state or jurisdiction in which
such an offering, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About CollPlant
CollPlant is a regenerative and aesthetic medicine company
focused on 3D bioprinting of tissues and organs, and medical
aesthetics. Our products are based on our rhCollagen (recombinant
human collagen) that is produced with CollPlant's proprietary plant
based genetic engineering technology.
Our products address indications for the diverse fields of organ
and tissue repair, and are ushering in a new era in regenerative
medicine. Our flagship rhCollagen BioInk product line is ideal for
3D bioprinting of tissues and organs. CollPlant has a licensing
agreement with United Therapeutics, whereby United Therapeutics is
using CollPlant's BioInks in the manufacture of 3D bioprinted lungs
for transplant in humans. The Company has a collaboration agreement
with 3D Systems to advance and accelerate tissue and scaffold
bioprinting by delivering an integrated 3D printer and BioInks
solution to third parties. CollPlant's industry collaboration
partnerships include the Advanced Regenerative Manufacturing
Institute (ARMI) and RegenMed Development Organization (ReMDO).
For more information about CollPlant, visit
http://www.collplant.com.
Safe Harbor Statements
This press release may include forward-looking statements.
Forward-looking statements may include, but are not limited to,
statements relating to CollPlant's objectives plans and strategies,
as well as statements, other than historical facts, that address
activities, events or developments that CollPlant intends, expects,
projects, believes or anticipates will or may occur in the future.
For example, forward looking statement include statement regarding
the potential closing of the offering, the expected closing date
and the intended use of proceeds. These statements are often
characterized by terminology such as "believes," "hopes," "may,"
"anticipates," "should," "intends," "plans," "will," "expects,"
"estimates," "projects," "positioned," "strategy" and similar
expressions and are based on assumptions and assessments made in
light of management's experience and perception of historical
trends, current conditions, expected future developments and other
factors believed to be appropriate. Forward-looking statements are
not guarantees of future performance and are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in such statements. Many factors
could cause CollPlant's actual activities or results to differ
materially from the activities and results anticipated in
forward-looking statements, including, but not limited to, the
following: the Company's history of significant losses, its ability
to continue as a going concern, and its need to raise additional
capital and its inability to obtain additional capital on
acceptable terms, or at all; the Company's expectations regarding
the timing and cost of commencing clinical trials with respect to
tissues and organs which are based on its rhCollagen based BioInk,
dermal fillers for aesthetics, VergenixSTR, and VergenixFG; the
Company's ability to obtain favorable pre-clinical and clinical
trial results; regulatory action with respect to rhCollagen based
BioInk, dermal fillers for aesthetics, VergenixSTR, and VergenixFG
including but not limited to acceptance of an application for
marketing authorization, review and approval of such application,
and, if approved, the scope of the approved indication and
labeling; commercial success and market acceptance of the Company's
rhCollagen based BioInk, dermal fillers for aesthetics,
VergenixSTR, and VergenixFG; the Company's ability to establish
sales and marketing capabilities or enter into agreements with
third parties and its reliance on third party distributors and
resellers; the Company's ability to establish and maintain
strategic partnerships and other corporate collaborations; the
Company's reliance on third parties to conduct some or all aspects
of its product manufacturing; the scope of protection the Company
is able to establish and maintain for intellectual property rights
and the Company's ability to operate its business without
infringing the intellectual property rights of others; the overall
global economic environment; the impact of competition and new
technologies; general market, political, and economic conditions in
the countries in which the Company operates; projected capital
expenditures and liquidity; changes in the Company's strategy; and
litigation and regulatory proceedings. More detailed information
about the risks and uncertainties affecting CollPlant is contained
under the heading "Risk Factors" included in CollPlant's most
recent annual report on Form 20-F filed with the SEC, and in other
filings that CollPlant has made and may make with the SEC in the
future. The forward-looking statements contained in this press
release are made as of the date of this press release and reflect
CollPlant's current views with respect to future events, and
CollPlant does not undertake and specifically disclaims any
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events
or otherwise.
Contact
at CollPlant:
Eran Rotem
Deputy CEO & CFO
Tel: + 972-73-2325600
Email: Eran@collplant.com
Sophia Ononye, PhD MPH MBA
Founder & CEO, The Sophia Consulting Firm
Tel:+1-347-533-4578
E-mail: sophia@sophiaconsultingfirm.com
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SOURCE CollPlant