Collplant Biotechnologies Ltd - CLGN STOCK NEWS

Stratasys (SSYS) and CollPlant (CLGN) have announced a joint development and commercialization agreement to focus on bioprinting solutions for regenerative breast implants, targeting a $2.6 billion market opportunity. Utilizing Stratasys' P3 technology and CollPlant's rhCollagen-based bioinks, the partnership aims to produce implants designed to regenerate natural tissue with minimal immune response. The collaboration will also explore the future innovation of additional human tissues and organs. Both companies will cross-promote each other's products to enhance market penetration and capitalize on their respective expertise.

CollPlant Biotechnologies (Nasdaq: CLGN) reported its financial results for the full year 2022, revealing a significant net loss of $16.9 million or $1.53 per share, compared to a profit of $237,000 in 2021. Revenue plummeted to $299,000, a decrease of $15.3 million year-over-year, largely due to a prior $14 million upfront payment from AbbVie. Despite these challenges, CollPlant is advancing its strategic collaboration with AbbVie in developing dermal fillers and is planning further studies for its 3D bioprinted breast implants, targeting a $2.6 billion market. The company ended 2022 with $29.7 million in cash and equivalents.

CollPlant Biotechnologies (CLGN) will release its financial results for the year ended December 31, 2022, on March 29, 2023, before the market opens. Following the release, a conference call will be held at 10:00 am EDT to discuss the results and provide corporate updates. The call can be accessed by U.S. investors at 1-877-407-9716 and by international investors at 1-201-493-6779, with a conference ID of 13736701. CollPlant focuses on regenerative medicine using its proprietary rhCollagen technology, aiming to innovate in tissue repair and organ manufacturing. The company has partnered with Allergan for dermal filler development.

CollPlant (Nasdaq: CLGN), a leader in regenerative and aesthetic medicine, shared a letter from CEO Yehiel Tal, reflecting on 2022 achievements and future strategies. The company aims to leverage its collagen-based platform for innovation, highlighting co-development agreements with industry giants like AbbVie. Key products include a photocurable dermal filler and a 3D bioprinted breast implant, both showing promising results in preclinical studies. CollPlant also emphasized its commitment to ESG goals and diversity within its workforce. Looking forward, the company plans to expand its product portfolio and further its position in the regenerative medicine market.

CollPlant (Nasdaq: CLGN) announced positive results from a large animal study of its recombinant human collagen (rhCollagen)-based 3D bioprinted regenerative breast implants. The study demonstrated successful tissue regeneration with no adverse reactions, positioning these implants as a safer alternative for the $2.5 billion global breast implant market. The company plans to initiate a follow-up study in 2023 with commercial-size implants to pave the way for human trials and commercialization, focusing on overcoming safety challenges associated with traditional silicone implants.

CollPlant (Nasdaq: CLGN) has launched Collink.3D™ 50L, a recombinant human collagen-based bioink in powder form, enhancing flexibility for a variety of 3D bioprinting applications such as drug discovery and tissue engineering. This product aims to provide biopharma and academic customers with an animal-free alternative that offers improved bio-functionality and safety. It expands CollPlant's existing portfolio of bioinks and is designed for easy reconstitution for specific applications. The new bioink seeks to streamline product development processes and reduce costs.

CollPlant Biotechnologies (Nasdaq: CLGN) reported Q3 2022 financial results, showing GAAP revenues of $109,000, a decline from $140,000 in Q3 2021. The net loss increased to $4.4 million, or $0.40 per share, compared to $3.1 million, or $0.29 per share, in the prior year. The company maintains a strong balance sheet with $33 million in cash. Key developments include partnerships with AbbVie and Tel Aviv University for dermal fillers and a 3D bioprinted intestine model. CollPlant's operating expenses rose due to increased R&D and personnel costs.

CollPlant (NASDAQ: CLGN) announced a collaboration with Tel Aviv University and Sheba Medical Center to co-develop a 'Gut-on-a-Chip' tissue model aimed at enhancing treatment for ulcerative colitis. The agreement entails that CollPlant will finance the development and secure exclusive rights for manufacturing and commercialization. This 3D bioprinted intestine model combines human recombinant collagen with innovative biomaterials, promising progress in personalized medicine and drug discovery while potentially reducing reliance on animal testing.

CollPlant (Nasdaq: CLGN) has launched Collink.3D™ 90, a recombinant human collagen-based bioink designed for versatile 3D bioprinting applications, including both soft and hard tissues. This product demonstrates increased mechanical properties and faster human cell migration compared to a widely used hydrogel. The introduction of this bioink aligns with the company's strategic goal to enhance its portfolio of rhCollagen-based bioinks for biopharma and academic markets, representing a significant expansion in the tissue engineering field.