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CollPlant Biotechnologies Ltd (NASDAQ: CLGN) is a pioneering company in regenerative and aesthetic medicine, specializing in the 3D bioprinting of tissues and organs and medical aesthetics. The company's core technology is its recombinant human collagen (rhCollagen), produced through proprietary plant-based genetic engineering. CollPlant's innovative products address diverse fields of tissue repair, aesthetics, and organ manufacturing, marking a new era in regenerative medicine.
CollPlant's flagship rhCollagen bioink product line is optimized for 3D bioprinting applications, including drug discovery, tissue testing, and the development of transplantable tissues and organs. The company's unique Vergenix™ line includes a soft tissue repair matrix for tendinopathy treatment and a wound repair matrix that promotes rapid healing of acute and chronic wounds.
In the medical aesthetics market, CollPlant is advancing its regenerative breast implants and dermal fillers. The company has formed strategic partnerships, including a notable collaboration with AbbVie for the development of dermal and soft tissue fillers, triggering milestone payments and potential future royalties.
Recent achievements include the initiation of pre-clinical trials for regenerative breast implants and progress in large-animal studies demonstrating tissue regeneration and safety. In addition, CollPlant's advanced bioinks are facilitating the bio-fabrication of human tissues and organs in collaboration with industry leaders.
Financially, CollPlant reported significant revenue increases due to milestone payments and product sales, although it continues to invest in research and development to maintain its leading position in the market. The company's cash and cash equivalents provide a robust runway for at least two years of operation, supporting ongoing and future projects.
CollPlant's commitment to sustainability is reflected in its plant-based production process and adherence to Environmental, Social, and Governance (ESG) principles. The company joined the United Nations Global Compact to further its sustainable corporate governance goals.
CollPlant Biotechnologies (NASDAQ:CLGN) announced a registered direct offering of 2,000,000 American Depositary Shares (ADSs) at $17.50 each, aiming to raise approximately $35 million in gross proceeds. The offering is expected to close around February 17, 2021. The net proceeds will support general corporate purposes, including working capital and the development of regenerative medicine products. H.C. Wainwright & Co. is the exclusive placement agent for this offering.
CollPlant Biotechnologies (NASDAQ: CLGN) has secured a worldwide exclusive development and commercialization agreement with Allergan Aesthetics, part of AbbVie, for dermal and soft tissue filler products. This agreement includes an upfront payment of $14 million and potential milestone payments of up to $89 million. Allergan will utilize CollPlant's plant-derived recombinant human collagen (rhCollagen) alongside its own technologies. CEO Yehiel Tal expressed optimism for a transformative partnership, targeting a market expected to reach $10 billion by 2026.
CollPlant (NASDAQ: CLGN) has entered into a product manufacturing and supply agreement with STEMCELL Technologies, Canada's largest biotechnology company. This partnership involves the sale of CollPlant's recombinant human Type I collagen (rhCollagen) for use in cell culture media kits developed by STEMCELL. This agreement builds on their existing business relationship since 2014, aiming to enhance regenerative medicine research. STEMCELL's global distribution of these kits is expected to advance applications in stem cells, cancer, and cellular therapy.
CollPlant (NASDAQ: CLGN) reported a remarkable 511% increase in revenues for Q3 2020, totaling $4.1 million, up from $679,000 in Q3 2019. The company's comprehensive income reached $703,000 on a GAAP basis, or $1.1 million non-GAAP, significantly improving from a loss of $3.2 million in the same quarter last year. Cash and equivalents stood at $5.0 million. The strong financial performance is attributed to the collaboration with United Therapeutics and advancements in medical aesthetics.
CollPlant (NASDAQ: CLGN) announced the early development of an antiviral agent utilizing its recombinant human type I collagen (rhCollagen) embedded with silver nanoparticles (AgNP) for potential COVID-19 treatment. Initial in-vitro results show significant inhibition of avian coronavirus infectivity, a model for SARS-CoV-2. The company plans to develop an inhalation formulation aimed at protecting respiratory systems, which could help reduce transmission and severity of COVID-19.
CollPlant (NASDAQ: CLGN), a regenerative medicine company, announced a significant first order for its Vergenix Flowable Gel product in Ukraine, amounting to hundreds of thousands of dollars. The order comes from a new Russian-based distributor and will see shipments start in the current quarter. This follows a recent distribution agreement covering six Commonwealth of Independent States countries. Vergenix FG is designed for treating difficult wounds, enhancing patient care in Ukraine.
CollPlant (NASDAQ: CLGN) presented its plant-derived recombinant human collagen (rhCollagen) technology at the Science of Aging Virtual Symposium 2020. Dr. Nadav Orr discussed its applications in anti-aging therapies, highlighting the company's Skin Rejuvenation and Breast Implant pipelines. Data showed that a combination of rhCollagen and hyaluronic acid significantly enhanced the proliferation of normal human dermal fibroblasts after an 8-day treatment. The company is also focused on 3D bioprinting and has strategic partnerships with United Therapeutics and 3D Systems for developing innovative medical applications.
CollPlant (NASDAQ: CLGN) has announced a five-year distribution agreement for its Vergenix™ Flowable Gel in six CIS countries, including Belarus and Kazakhstan. The agreement includes an initial order worth hundreds of thousands of U.S. dollars. The gel is approved in Europe and is designed for treating acute and chronic wounds. A recent peer-reviewed study has shown excellent clinical outcomes for Vergenix™ FG. The company aims to expand its market presence and continue developing innovative applications for its rhCollagen technology.
CollPlant (NASDAQ: CLGN) announced that Dr. Nadav Orr, VP of R&D, will present at the Science of Aging Virtual Symposium 2020 on September 16, 2020. Dr. Orr's presentation, titled "Use of novel plant-derived recombinant human collagen for anti-aging therapies," will focus on cellular aging dynamics during Session 3 of the event. This virtual symposium highlights significant advancements in aging science. CollPlant specializes in regenerative medicine, leveraging rhCollagen technology for applications in tissue repair and medical aesthetics.
CollPlant (NASDAQ: CLGN) reported Q2 2020 revenues of $823,000, marking a 36% increase from $606,000 in Q2 2019. The comprehensive loss was $2.0 million on a GAAP basis, equating to $0.28 per share. Cash reserves stood at $3.7 million. The company is advancing its rhCollagen platform and partnering with United Therapeutics to address organ shortages. Additionally, it plans to launch new dermal fillers and expand its workforce. Operating expenses increased by 5% YoY, while the gross profit declined to $75,000.
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