Collagen Solutions PLC AGM Statement (2184P)

TIDMCOS

RNS Number : 2184P

Collagen Solutions PLC

30 August 2017

Collagen Solutions Plc

(the "Company" or the "Group")

AGM Statement

Collagen Solutions plc (AIM: COS), the developer and manufacturer of medical grade collagen components for use in regenerative medicine, medical devices and in-vitro diagnostics, will hold its Annual General Meeting at 11am today at their offices at 3 Robroyston Oval, Nova Business Park, Glasgow, G33 1AP. At the meeting, Jamal Rushdy, CEO of Collagen Solutions will make the following statement:

"I am pleased to highlight our recent progress with respect to our key initiatives for this fiscal year. First, we have now enrolled 12 of 15 (80%) of the patients scheduled in the open label extension study for ChondroMimetic(R), an osteochondral scaffold for the repair of cartilage defects in the knee. We expect final data collection and analysis by the end of the calendar year, with a submission for CE-mark certification to follow. We have strengthened our tissue business by recently expanding our abattoir capacity by approximately 80%, and additional abattoir qualifications and yield improvement initiatives are in process. Our core business momentum is continuing with four new early-stage customer deals in the first quarter of the fiscal year, including two new tissue customers. This new business will help underpin our overall anticipated growth which is weighted to the second half of our fiscal year. Finally, our U.S. facility consolidation plans are on track, which will provide improved collaboration and cost-savings to be used for further R&D investment. We expect to merge these sites next month in our new facility near Minneapolis, Minnesota."

About Collagen Solutions:

Collagen Solutions Plc is a global supplier, developer, and manufacturer of medical grade collagen, tissues, and related medical devices and components for use in regenerative medicine, medical devices and in-vitro diagnostics and research. The Company is also expanding its range of biomaterials-based finished medical devices based on its internal and acquired intellectual property for commercialisation with partners via licensing and distribution arrangements, including ChondroMimetic(R), an osteochondral scaffold for repairing cartilage defects in the knee. The Company's products are used in a wide variety of applications including orthopedics, cardiovascular, dental, plastic surgery, wound healing, neurology and urology.

For more information, visit www.collagensolutions.com

Enquiries:

 
 Collagen Solutions Plc                                          Contact via Walbrook 
 Jamal Rushdy, Chief Executive 
  Officer 
 Gill Black, Chief Financial 
  Officer 
 
 Cenkos Securities plc (Nominated                                  Tel: [phone] 
  Adviser and Broker) 
 Stephen Keys 
 Steve Cox 
 
 Walbrook PR                            Tel: [phone] or [e-mail] 
 Mike Wort                                                         Mob: [phone] 
 Anna Dunphy                                                       Mob: [phone] 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 30, 2017 02:00 ET (06:00 GMT)