CollPlant Extends its European Distribution Network With Signing of New Distribution Agreement in Turkey for Vergenix®FG Wound Treatment
The Potential Market for Chronic Wound Treatment in Turkey is Estimated at More Than 400,000 Procedures Annually
Yehiel Tal: "We are focusing on building the sales infrastructure for Vergenix®FG by extending our European distribution network"
NES ZIONA, Israel, May 22, 2017 /PRNewswire/ -- CollPlant (TASE: CLPT), a regenerative medicine company utilizing its proprietary plant-based rhCollagen (recombinant human "rhCollagen") technology for tissue repair products announced that the Company has signed a new, exclusive distributor agreement in Turkey to market Vergenix®FG, for the treatment of chronic wounds. The one year agreement includes a two-year extension option. The market potential for the treatment of chronic wounds in Turkey is estimated at in excess of 400,000 procedures annually.
Yehiel Tal, Chief Executive Officer of CollPlant, noted, "We have received excellent feedback from opinion leaders in Europe who have been using the product, and the signing of the agreement with the Turkish distributor represents a further layer in the implementation of the Company's sales strategy on the continent. Our objective is to build up the sales infrastructure for Vergenix®FG through distributors in various, key territories."
Below is a link to a video review by Professor Alberto Piaggesi, M.D., Director of the Diabetic Foot Section of the Pisa University Hospital, Italy and a member of the Council of the European Wound Management Association (EWMA). Dr. Piaggesi, who uses Vergenix®FG to treat patients with hard to heal chronic wounds, describes the product's advantages and its success in closing wounds. (Warning: the video includes pictures from treatment that some viewers might find distressing).
Vergenix®FG is an injectable gel compound based on the Company's human collagen, which has shown to treat chronic wounds and operation-based incisions, including diabetic foot ulcer. The gel is injected directly into the wound, thereby filling it and facilitating a healing process through to complete wound closure, without any side effects such as infections or allergies which may occur with other treatment options.
CollPlant is a regenerative medicine company leveraging its proprietary, plant-based recombinant human collagen (rhCollagen) technology for the development and commercialization of tissue repair products, initially for the orthobiologics, 3D Bio-printing of tissue and organs, and advanced wound care markets. The Company's cutting-edge technology is designed to generate and process proprietary 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; and Vergenix®FG (Flowable Gel) wound filler, for treatment of acute and chronic wounds. CollPlant's business strategy includes proprietary development and manufacture of tissue repair products and their commercialization and distribution, together with leading third parties, alongside alliances with leading companies for joint development, manufacture and marketing of additional products.
For more information about CollPlant, visit http://www.collplant.com
Contact at CollPlant:
Chief Financial Officer
Tel: + 972-73-2325600/612
Contact at Rx Communications Group, LLC:
Paula Schwartz (for US Investors)
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Released May 22, 2017