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COS Collagen Solutions Plc

6.625
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Collagen Solutions Plc LSE:COS London Ordinary Share GB00B94T6Y14 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 6.625 6.25 7.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Collagen Solutions PLC ChondroMimetic® Update (9488Z)

20/12/2017 11:55am

UK Regulatory


Collagen Solutions (LSE:COS)
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From Mar 2019 to Mar 2024

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TIDMCOS

RNS Number : 9488Z

Collagen Solutions PLC

20 December 2017

Collagen Solutions Plc

(the "Company")

ChondroMimetic(R) Update

First Partner Deal Agreed with South Korean Partner

Collagen Solutions plc (AIM: COS), the developer and manufacturer of medical grade collagen and tissue components for use in regenerative medicine applications including orthopaedics, dental, wounds, and cardiovascular, announces its first partnering deal for ChondroMimetic(R) with a South Korean partner, Insung Medical Co. Ltd. ("Insung Medical"). Financial terms have not been disclosed.

ChondroMimetic(R) is a minimally-invasive surgically placed scaffold for the repair of cartilage defects in the knee. The company is expecting results from an eight-year clinical extension study to be reported in Q1 2018.

Insung Medical, based in the Wonju Medical Industry Techno Valley near Seoul, was originally established in 1984 and focuses on manufacturing and sales of consumable surgical products to domestic and overseas markets. Insung's existing product range and sales provides access to multiple local markets in South Korea. Subject to approval, ChondroMimetic(R) will be commercialised by Insung Medical in collaboration with the existing Collagen Solutions commercial office in Seoul which will also provide technical and educational support.

Jamal Rushdy, CEO of Collagen Solutions, commented: "We are delighted to announce our first partnering deal with Insung Medical, providing early validation of the global commercial opportunity of ChondroMimetic(R). Insung Medical's enthusiasm for the opportunity to commercialise ChondroMimetic(R) in South Korea aligns with our strategy to launch the product to address the unmet need for a simple, cost-effective and long-term clinically effective treatment for cartilage defects."

Mr. In Keum Song, Chairman of Insung Medical added: "I am very delighted to partner with Collagen Solutions for its ChondroMimetic product line. I look forward to a long term positive business relationship with Collagen Solutions as we expand into new technologies".

Following the anticipated completion of the aforementioned extension study next quarter, Collagen Solutions and Insung Medical will collaborate to apply for approval by the Korean Ministry of Food And Drug Safety (MFDS) in parallel with Collagen Solutions' application for the CE Mark for European approval. Expected timing of such MFDS approval is not determined at this time.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

Enquiries:

 
 Collagen Solutions Plc                                                                          Via Walbrook 
 Jamal Rushdy, Chief Executive 
  Officer 
 Gill Black, CFO and Company 
  Secretary 
 
 Head of Investor Relations                                                                Mob: 07721 413 496 
 Lisa Baderoon (lisa.baderoon@collagensolutions.com) 
 
 Cenkos Securities plc (Nominated 
  Adviser and Broker) 
 Steve Cox                                                                                 Tel: 0207 397 8900 
 Stephen Keys 
 
 Walbrook PR                                              Tel: 020 7933 8780 or collagen@walbrookpr.com 
 Mike Wort                                                                                 Mob: 07900 608 002 
 Anna Dunphy                                                                               Mob: 07876 741 001 
 
 

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). The Company's products are used in a wide variety of applications including orthopaedics, cardiovascular, dental, plastic surgery, wound healing, neurology and urology.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

December 20, 2017 06:55 ET (11:55 GMT)

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