NESS ZIONA, Israel, April 23,
2018 /PRNewswire/ --
CollPlant (NASDAQ:CLGN) (TASE:CLGN), a
regenerative medicine company utilizing its proprietary plant-based
rhCollagen technology for tissue repair products today announced
the opening of a new rhCollagen production facility in Rehovot,
Israel.
This 6,000 square foot cGMP facility was designed for
purification of rhCollagen and formulation of end-products,
including BioInks for 3D bioprinting and its proprietary tissue
repair products. The facility includes clean rooms, logistic
support areas, and dedicated production equipment to support the
company's production demand for the next few years.
Yehiel Tal, CEO of CollPlant
commented: "The new facility will enable operational flexibility
and cost reduction for the rhCollagen and end products.
Consequently, we believe the new facility will enhance our
competitiveness and profitability. Additionally, we expect this
facility to serve for process development of new production
technologies."
The first production runs have been successfully completed, and
validation is expected to take place during the second quarter of
2018.
About CollPlant
CollPlant is a regenerative medicine company focused on 3D
bioprinting of tissues and organs, and on developing and
commercializing tissue repair products for orthobiologics, and
advanced wound care markets. Our products are based on our
rhCollagen (recombinant human collagen) that is produced with
CollPlant's proprietary plant based genetic engineering
technology.
Our products address indications for diverse fields of organ and
tissue repair, and are ushering in a new era in regenerative
medicine. Our flagship rhCollagen BioInk product line is ideal for
3D bioprinting of tissues and organs, and our unique Vergenix line
of rhCollagen products includes a soft tissue repair matrix for
treating tendinopathy and a wound repair matrix to promote a rapid
optimal healing of acute and chronic wounds.
For more information about CollPlant, visit
http://www.collplant.com
Safe Harbor Statements
This press release may include forward-looking statements.
Forward-looking statements may include, but are not limited to,
statements relating to CollPlant's objectives plans and strategies,
as well as statements, other than historical facts, that address
activities, events or developments that Collplant intends, expects,
projects, believes or anticipates will or may occur in the future.
These statements are often characterized by terminology such as
"believes," "hopes," "may," "anticipates," "should," "intends,"
"plans," "will," "expects," "estimates," "projects," "positioned,"
"strategy" and similar expressions and are based on assumptions and
assessments made in light of management's experience and perception
of historical trends, current conditions, expected future
developments and other factors believed to be appropriate.
Forward-looking statements are not guarantees of future performance
and are subject to risks and uncertainties that could cause actual
results to differ materially from those expressed or implied in
such statements. Many factors could cause CollPlant's actual
activities or results to differ materially from the activities and
results anticipated in forward-looking statements, including, but
not limited to, the following: the Company's history of significant
losses and its need to raise additional capital and its inability
to obtain additional capital on acceptable terms, or at all; the
Company's expectations regarding the timing and cost of commencing
clinical trials with respect to tissues and organs which are based
on its rhCollagen based Bioink, VergenixSTR, and VergenixFG; the
Company's ability to obtain favorable pre-clinical and clinical
trial results; regulatory action with respect to rhCollagen based
BioInk, VergenixSTR, and VergenixFG including but not limited to
acceptance of an application for marketing authorization, review
and approval of such application, and, if approved, the scope of
the approved indication and labeling; commercial success and market
acceptance of the Company's rhCollagen based BioInk, VergenixSTR,
and VergenixFG; the Company's ability to establish sales and
marketing capabilities or enter into agreements with third parties
and its reliance on third party distributors and resellers; the
Company's ability to establish and maintain strategic partnerships
and other corporate collaborations; the Company's reliance on third
parties to conduct some or all aspects of its product
manufacturing; the scope of protection we are able to establish and
maintain for intellectual property rights and the Company's ability
to operate its business without infringing the intellectual
property rights of others; the overall global economic environment;
the impact of competition and new technologies; general market,
political, and economic conditions in the countries in which the
Company operates; projected capital expenditures and liquidity;
changes in the Company's strategy; and litigation and regulatory
proceedings. More detailed information about the risks and
uncertainties affecting Collplant is contained under the heading
"Risk Factors" included in CollPlant's most recent annual report on
Form 20-F filed with the SEC, and in other filings that Collplant
has made and may make with the SEC in the future. The
forward-looking statements contained in this press release are made
as of the date of this press release and reflect CollPlant's
current views with respect to future events, and Collplant does not
undertake and specifically disclaims any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Contact at CollPlant:
Eran Rotem
Deputy CEO and CFO
Tel: + 972-73-2325600/612
Email: Eran@collplant.com
IR Contact
Amato and Partners, LLC
90 Park Avenue, 17th Floor
New York, NY 10016
admin@amatoandpartners.com
SOURCE CollPlant