Yehiel Tal: “We have recently been focused on setting up the marketing infrastructure required for Vergenix®FG via additional distribution agreements in Europe”
Rehovot, 02 June, 2016, CollPlant (TASE: CLPT), a regenerative medicine company utilizing its proprietary plant-based rhCollagen technology for tissue repair products, today announces a major commercial milestone with the signing of an Italian distributor for its Vergenix®FG product, intended for the treatment of chronic wounds. This is an exclusive, two year agreement, with an option to extend the period. CollPlant expects the first order to be received within the next few days, with delivery of products scheduled for June 2016.
Yehiel Tal, CEO of CollPlant: “Signing of the agreement with an Italian distributor represents an important achievement in the realization of the Company’s commercial strategy, and comes after proof of clinical efficacy and receipt of CE Mark, facilitating sales in Europe. We have recently been heavily focused on setting up the marketing infrastructure required for Vergenix®FG via additional distribution agreements in Europe.”
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. In recent months the Company has been involved in setting up the distribution infrastructure for sales of the product in Europe, including inter alia dialogs with distribution companies and contacts with doctors considered opinion leaders in the field of the advanced wound treatment.
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
Tel: + 972-73-2325600/612
Contact at Rx Communications Group, LLC
Paula Schwartz (for US Investors)
Senior Vice President