REHOVOT, Israel, Sept. 14, 2020 /PRNewswire/ --
- CollPlant has already received first order amounting to
hundreds of thousands of U.S. dollars
- Product distribution in six CIS countries expected to increase
clinical use in new patient populations
- Recent peer-reviewed publication further substantiates
excellent clinical outcomes associated with
Vergenix™ FG
CollPlant (NASDAQ: CLGN) a regenerative and aesthetic medicine
company, today announced that it has signed an agreement for
distribution of its Vergenix™ Flowable Gel (FG)
product in six Commonwealth of Independent States (CIS) countries:
Belarus, Kazakhstan, Georgia, Azerbaijan, Armenia and Uzbekistan.
The Company also reported that it has received the first order
in an amount of hundreds of thousands of U.S. dollars. Based
on deal terms, CollPlant will deliver a portion of the order
immediately and the remainder over the next six months. The
distributor is a Swiss-headquartered pharmaceutical group of
companies and the agreement is for a five-year period.
"This distribution agreement will enable new patient populations
in the CIS to benefit from Vergenix™ FG use, which has
also already elicited positive feedback in Europe for rapid recovery of chronic
wounds," said Yehiel Tal, CEO
of CollPlant. "We are proud of the transformative potential of our
recombinant human collagen platform technology that facilitates
optimal treatment options for patients and remain open to
additional collaborations that will bolster commercial
infrastructure for Vergenix™ FG as well as support for
our pipeline development efforts. At the same time, we
continue to strategically focus on innovative applications of our
rhCollagen in medical aesthetics and 3D Bioprinting of organs and
tissues. "
Vergenix™ FG is based on the Company's rhCollagen
technology and is a wound-care product designed to treat acute and
chronic hard-to-heal wounds, such as diabetic ulcers, pressure
sores, surgical cuts and trauma wounds. A single
application of the product provides an optimized treatment for
the healing process until full wound closure.
Recently, a study was published in The Diabetic Foot
Journal, Vol 23 No 2 2020, by Iacopi E et al from the
University Hospital in Pisa, Italy. The study demonstrated
that Vergenix™ FG had excellent clinical
outcomes in patients with post-surgical diabetic
foot wounds. Vergenix™ FG has received CE
marking and other regulatory approvals that allow sales and
treatments in Europe, Israel and other countries.
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
tissue repair, aesthetics and organ manufacturing, and, we believe,
are ushering in a new era in regenerative and aesthetic
medicine.
Our flagship rhCollagen BioInk product line is ideal for 3D
bioprinting of tissues and organs. In October 2018, we entered into 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.
In January 2020, we also entered
into a Joint Development Agreement with 3D Systems Corporation, or
3D Systems, pursuant to which we and 3D Systems jointly develop
tissue and scaffold bioprinting processes for third party
collaborators. Our industry collaboration also includes the
Advanced Regenerative Manufacturing Institute, or ARMI.
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.
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 outbreak of
coronavirus; 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 and products
for medical aesthetics; the Company's ability to obtain favorable
pre-clinical and clinical trial results; regulatory action with
respect to rhCollagen based BioInk and medical aesthetics products
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 products in 3D Bioprinting and medical aesthetics;
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-Onyia, PhD MPH
MBA
Founder & CEO, The Sophia Consulting Firm
Tel: +1-347-851-8674
E-mail: sophia@sophiaconsultingfirm.com|
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SOURCE CollPlant