CollPlant expands European sales network:
The Company has signed a distribution agreement in the Netherlands for Vergenix®FG for treatment of acute and chronic wounds and surgical cuts
Ness Ziona, Israel, August 16, 2017, CollPlant Ltd. (TASE: CLPT), a regenerative medicine company utilizing its proprietary plant-based rhCollagen technology for tissue repair products (recombinant human, “rhCollagen”), announced that it has signed an agreement with a distributor in the Netherlands to market Vergenix®FG. Under the terms of the agreement, the distributor undertook to make the first order for the product when signing the agreement, in a scope that is not material to the Company. The agreement is exclusive, for a period of two years, with an option for an extension.
Yehiel Tal, CEO of CollPlant: “The agreement is part of the strategy for introducing the product in Europe and increasing sales. In the past year, we have signed exclusive distribution agreements for the product in Italy, Turkey and Switzerland, and the positive results from treatments applied to date have helped to position the product in Europe.”
Vergenix®FG is based on the Company’s collagen technology, and is designed to treat chronic hard-to-heal wounds such as diabetic ulcers, pressure sores, surgical cuts and trauma wounds. The product is injected directly into the wound, filling it and contributing to the healing process until full wound closure, without any side effects.
“We have recently administered treatments using Vergenix®FG in a number of centers in Israel, Yehiel Tal added. “This follows marketing approval of Israel’s Ministry of Health, together with our steps to receive indemnity for the product from health funds in Israel. This is a continuation of the success of commercial treatments at hospitals in Italy and Switzerland, where the results have demonstrated impressive rapid closure of hard-to-heal wounds.”
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