REHOVOT, Israel - CollPlant Biotechnologies (NASDAQ:CLGN), an innovator in regenerative and aesthetic medicine, reported significant advancements in its collagen-based technology platform and product pipeline over the past year. The company's CEO, Yehiel Tal, highlighted key developments, including progress with strategic partners such as AbbVie (NYSE:ABBV) and Stratasys (NASDAQ:SSYS), and advancements in their regenerative breast implants and gut-on-a-chip tissue model programs.
In collaboration with AbbVie, CollPlant has made strides in developing a regenerative dermal and soft tissue filler, now in clinical studies, which could potentially disrupt the current market. An important milestone was achieved in June 2023, resulting in a $10 million payment to CollPlant, with the possibility of future milestone payments and royalties on product sales.
The partnership with Stratasys, announced in April 2023, aims to bio-fabricate human tissues and organs, with a focus on developing an industrial-scale solution for regenerative breast implants using Stratasys' P3 technology-based bioprinter and CollPlant's bioinks.
CollPlant's regenerative breast implants, designed to regenerate natural breast tissue without an immune response, could offer a significant alternative to traditional synthetic silicone implants. The company completed a large animal study in January 2023, showing promising tissue regeneration, and initiated a commercial-size large-animal study in December 2023 to support future human studies and product commercialization.
In the personalized medicine arena, CollPlant is advancing a gut-on-a-chip program for drug discovery and personalized treatment of ulcerative colitis, with further updates expected as the program progresses.
Intellectual property also saw reinforcement with the issuance of a U.S. patent in November 2023 for a photocurable dermal filler product candidate, which could strengthen CollPlant's market position.
CollPlant's commitment to corporate responsibility was underscored by the hiring of an ESG expert and joining the United Nations Global Compact in 2023, reflecting the company's dedication to sustainable and responsible practices.
While the company's letter to shareholders contains forward-looking statements, the information provided is based on a press release statement. CollPlant's mission remains focused on becoming a global leader in regenerative and aesthetic medicine with a sustainable approach.
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