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NESS ZIONA, Israel, October 19, 2016 /PRNewswire/ --
CollPlant (TASE: CLPT), a regenerative medicine company utilizing its proprietary plant-based rhCollagen (recombinant human collagen) technology for tissue repair products, today announced that it has achieved a significant milestone with the receipt of the CE Mark for Vergenix™STR, a soft tissue repair matrix for the treatment of tendinopathy. Sales in Europe are expected to commence in the coming months.
Yehiel Tal, Chief Executive Officer of CollPlant: "The CE Mark for Vergenix™STR denotes an additional and key milestone achieved by CollPlant. In the past few months, we have shown that treatment with our product provides for substantially superior results when compared to published steroid treatment results, the current standard of care for tendinopathy. We are presently in dialogue with potential distributers for product marketing in Europe and expect initial sales within the coming months. Of note, this is the second CE Mark the company received this year, with the first granted at the beginning of the year, to its VergenixFG product, indicated for the treatment of chronic and surgical wounds. These accomplishments advance the company's strategic plan to position plant-bad human collagen technology, and its medical byproducts, as the gold standard in regenerative medicine."
Vergenix™STR primarily made of cross linked rhCollagen intended to be combined with platelet-rich plasma (PRP), a concentrated blood plasma derived from the patient's own blood, that contains high levels of platelets, which are critical to the healing process. Platelets contain growth factors are responsible for stimulating tissue generation and repair, including soft tissue repair, bone regeneration, development of new blood vessels, and stimulation of the healing process. Upon administration, CollPlant's Vergenix™STR serves as a scaffold to support cell adhesion and proliferation involved in the tendon healing while maintaining growth factor containing PRP in the vicinity of the injury. After injection into the affected area, the product forms a viscous gel matrix, holding the platelet concentrate in place. The matrix formed then has the ability to release growth factors in a controlled manner and with controlled biodegradation time, thereby enabling tissue repair.
CollPlant is a 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 Eran Rotem
Chief Financial Officer
Tel: + 972-73-2325600/612
Contact at Rx Communications Group, LLCPaula Schwartz (for US Investors)
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