Termination of Licensing Agreement for Bioprinting of Scaffolds for Lung Transplants
REHOVOT, Israel, February 25, 2021 /PRNewswire/ -- CollPlant Biotechnologies (NASDAQ:CLGN) a regenerative and aesthetics medicine company, today announced that on February 24, 2021 it received a notice from Lung Biotechnology, a United Therapeutics subsidiary, informing the Company of the termination of the licensing agreement between the parties. In the last few years, the parties collaborated under an agreement for the development of formulations for bioprinting scaffolds for lung transplants.
CollPlant runs several programs for the use of its proprietary BioInks and rhCollagen for different regenerative and aesthetics products. Some of these are being discussed with third parties. Furthermore, CollPlant runs inhouse development programs for 3D bioprinting of tissues, including the development of its proprietary soft tissue fillers and breast implants.
Yehiel Tal, Chief Executive Officer of CollPlant, stated, “We greatly appreciate the work done in recent years with Lung Biotechnology to address the global need for life-saving organs. Our rhCollagen-based BioInks have several advantages that makes them ideal for use in regenerative medicine applications. Today we are in business dialogue with a number of tier-one companies in the regenerative and aesthetics fields, which have the potential to yield meaningful collaborations with value creation for CollPlant. We are currently focused on the development work with Allergan Aesthetics, under the recently announced agreement for the development and commercialization of dermal and soft tissue fillers. CollPlant is also making progress in the development programs for 3D bioprinting of organs and tissues”
CollPlant is a regenerative and aesthetic medicine company focused on 3D bioprinting of tissues and organs, and medical aesthetics. The Company’s products are based on its rhCollagen (recombinant human collagen) produced with CollPlant’s proprietary plant based genetic engineering technology. These products address indications for the diverse fields of tissue repair, aesthetics, and organ manufacturing, and are ushering in a new era in regenerative and aesthetic medicine. CollPlant recently entered into a development and global commercialization agreement for dermal and soft tissue fillers with Allergan, an AbbVie company, the global leader in the dermal filler market.
For more information, visit http://www.collplant.com.
Contacts at CollPlant:
Deputy CEO & Chief Financial Officer
Tel: + 972-73-2325600/631
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