CollPlant Receives Substantial, Repeat Order for Its Biological Ink
Second order in two months from same, multinational biotechnology company, related to the development of technology for 3D bio printing of life saving organs
NESS ZIONA, Israel, November 28, 2017 /PRNewswire/ --
CollPlant (TASE: CLPT) (OTC: CQPTY), a regenerative medicine company utilizing its proprietary plant-based rhCollagen technology for tissue repair products (recombinant human, "rhCollagen"), announced that it has received an additional order, totaling hundreds of thousands of dollars, for the supply of its collagen and biological ink.
The order is from a major, multinational biotechnology company that is developing a technology for 3D bio-printing of life-saving organs. The first part of the order, amounting to approximately US $100,000, will be supplied immediately, and the remainder will be supplied between January 2018 and April 2018. This represents the second order received from this biotechnology company within the last two months. The biological ink is intended for use in the development of a technology to print life-critical organs such as the liver, kidneys, spleen, lungs and heart.
Yehiel Tal, CEO of CollPlant: "We are working intensively to promote joint ventures with leading companies in the field of biological 3D printing, and this reorder validates both the quality of our product and the progress we are making to create a significant footprint in the field."
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:
Deputy CEO & Chief Financial Officer
Tel: + 972-73-2325600/612
Contact at Rx Communications Group, LLC
Paula Schwartz (for US Investors)
Released November 28, 2017