REHOVOT, Israel, Feb. 25, 2021 /PRNewswire/ -- CollPlant
Biotechnologies (NASDAQ: CLGN) a regenerative and aesthetics
medicine company, today announced that on February 24, 2021 it received a notice from Lung
Biotechnology, a United Therapeutics subsidiary, informing the
Company of the termination of the licensing agreement between the
parties. In the last few years, the parties collaborated under an
agreement for the development of formulations for bioprinting
scaffolds for lung transplants.
CollPlant runs several programs for the use of its proprietary
BioInks and rhCollagen for different regenerative and aesthetics
products. Some of these are being discussed with third parties.
Furthermore, CollPlant runs inhouse development programs for 3D
bioprinting of tissues, including the development of its
proprietary soft tissue fillers and breast implants.
Yehiel Tal, Chief Executive
Officer of CollPlant, stated, "We greatly appreciate the work done
in recent years with Lung Biotechnology to address the global need
for life-saving organs. Our rhCollagen-based BioInks have several
advantages that makes them ideal for use in regenerative medicine
applications. Today we are in business dialogue with a number of
tier-one companies in the regenerative and aesthetics fields, which
have the potential to yield meaningful collaborations with
value creation for CollPlant. We are currently focused on the
development work with Allergan Aesthetics, under the recently
announced agreement for the development and commercialization of
dermal and soft tissue fillers. CollPlant is also making progress
in the development programs for 3D bioprinting of organs and
tissues."
About CollPlant
CollPlant is a regenerative and aesthetic medicine company
focused on 3D bioprinting of tissues and organs, and medical
aesthetics. The Company's products are based on its rhCollagen
(recombinant human collagen) produced with CollPlant's proprietary
plant based genetic engineering technology. These products address
indications for the diverse fields of tissue repair, aesthetics,
and organ manufacturing, and are ushering in a new era in
regenerative and aesthetic medicine. CollPlant recently
entered into a development and global commercialization agreement
for dermal and soft tissue fillers with Allergan, an AbbVie
company, the global leader in the dermal filler market.
For more information, visit http://www.collplant.com.
Safe Harbor for Forward-Looking 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: CollPlant'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; CollPlant's expectations
regarding the timing and cost of commencing clinical trials with
respect to products which are based on CollPlant's rhCollagen;
CollPlant's ability to obtain favorable pre-clinical and clinical
trial results; regulatory action with respect to the products,
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 products;
CollPlant's ability to establish sales and marketing capabilities
or enter into agreements with third parties and its reliance on
third-party distributors and resellers; CollPlant's ability to
establish and maintain strategic partnerships and other corporate
collaborations; CollPlant's reliance on third parties to conduct
some aspects of its product manufacturing; the scope of protection
CollPlant is able to establish and maintain for intellectual
property rights and the companies' ability to operate their
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 companies
operate; projected capital expenditures and liquidity; changes in
the companies' 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,
respectively, 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 neither company
undertakes, and each company specifically disclaims, any obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or
otherwise.
Contacts at CollPlant:
Eran Rotem
Deputy CEO & Chief Financial Officer
Tel: + 972-73-2325600/631
Email: Eran@collplant.com
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SOURCE CollPlant