CollPlant Holds Intellectual Property Rights in USA - One of the Largest Target Markets for the Company's Products: US Patent Office Approves Patent for Company's Collagen Production Techniques
Yehiel Tal: "Approval for the patent will protect our position for many years as the only company in the world that is capable of producing human collagen from plants"
REHOVOT, Israel, June 23, 2014 /PRNewswire/ --
CollPlant (TASE: CLPT), a developer and manufacturer of human collagen-based medical products announces, announce that the US Patent Office has approved its patent for processing methods for human collagen from plants. This buys CollPlant a competitive and commercial advantage that increases the potential economic value of its products before commencing marketing in the USA.
Yehiel Tal, CEO of Collagen: "The USA is one of the Company's strategic target markets, and we see the strengthening of our intellectual property in this territory as a significant achievement. Approval for the patent for Collagen production methods, which follows last year grant of US patent for our core technology, will protect our position for many years as the only company in the world that is capable of producing human collagen from plants.
We are continuing to flesh out our portfolio of patents in several territories to obtain a competitive advantage when we start sales. At the same time, we are preparing to carry out clinical trials on the first two products, with the target of commencing sales in 2015."
In addition to the approval from the US Patent Office, CollPlant has been granted with patents protecting it's core technology in the countries of the European Union, China, Japan, Australia, South Africa, India, Mexico, New Zealand and Singapore.
The Company's wholly-owned technology is based on the production of high-quality human collagen (the most common protein in the human body) through the genetic engineering of tobacco plants, by implanting five genes found in all connective tissues of human body into the plant. Based on human collagen the Company is developing a range of medical solutions that include product to treat tendons inflammation, a gel for treatment of chronic wounds among diabetes patients and surgical wounds, a bone graft substitute for bone healing, and more.
CollPlant is a medical device firm established in 2004 to focus on advancing regenerative medicine through its cutting-edge technology designed to generate and process proprietary recombinant human collagen, among other patent-protected recombinant proteins. CollPlant is developing a broad spectrum of biomaterials for a wide variety of medical markets, including orthopedics, wound healing, and general surgery. CollPlant's business model consists of own development and manufacturing of medical devices and their commercialization and distribution together with leading third parties alongside alliances with leading companies for joint development, manufacturing and marketing of additional
For more information about CollPlant, visit http://www.collplant.com
Chief Financial Officer
Released June 23, 2014