CollPlant Receives CE Mark for Vergenix™FG Wound Filler
NESS ZIONA, Israel, February 23, 2016 /PRNewswire/ --
CollPlant Ltd. (TASE:CLPT), a regenerative medicine company utilizing its proprietary plant-based rhCollagen technology for tissue repair products, today announced that it has received its CE Mark for Vergenix™FG, a flowable gel intended to treat chronic and acute wounds. Today's announcement marks the achievement of a significant milestone and paves the way for sales to begin in Europe in coming months.
Yehiel Tal, Chief Executive Officer of CollPlant, stated, "We are delighted to have received the CE Mark that will enable to market Vergenix™FG in Europe. Vergenix™ FG is one of the world's first medical devices containing a recombinant collagen sourced from plants. We are now seeking distributors in Europe in order to set up the necessary sales infrastructure, where initial sales are expected to begin in 2016."
Vergenix™FG leverages CollPlant's proprietary tobacco plant-based technology, allowing for the large scale production of recombinant human collagen (rhCollagen). Compared to the standard of care which requires multiple, repetitive treatments, Vergenix™FG requires only a single (one-time) treatment offering greater convenience and cost-effectiveness for both the physician and the patient.
As previously reported, clinical trial results demonstrated that Vergenix®FG is safe and effective for use on human subject and shows excellent wound closure rates.
CollPlant is a clinical-stage regenerative medicine company leveraging its proprietary, plant-based rhCollagen technology for the development and commercialization of tissue repair products, initially for the orthobiologics and advanced wound care markets. The Company's cutting-edge technology is designed to generate and process proprietary recombinant human collagen (rhCollagen), among other patent-protected recombinant proteins. Given that CollPlant's rhCollagen is identical to the type I collagen produced by the human body, it offers significant advantages compared to currently marketed tissue-derived collagen, including improved biofunctionality, superior homogeneity and reduced risk of immune response. The Company's broad development pipeline includes biomaterials indicated for orthopedics and advanced wound healing. Lead products include: Vergenix™STR (Soft Tissue Repair Matrix), for the treatment of tendinopathy; Vergenix™FG (Flowable Gel) wound filler, for treatment of acute and chronic wounds, and; Vergenix™BVF (Bone Void Filler), for use in spinal fusion procedures and trauma. CollPlant's business strategy includes proprietary development and manufacturing of tissue repair products and their commercialization and distribution, together with leading third parties, alongside alliances with leading companies for joint development, manufacturing and marketing of additional products.
For more information about CollPlant, visit http://www.collplant.com
Contact at CollPlant:
Chief Financial Officer
Contact at Rx Communications Group, LLC
Paula Schwartz (for US Investors)
Senior Vice President
Released February 23, 2016