Business
CollPlant Biotechnologies Provides Business Updates and First Quarter 2022 Financial Results
Co-development of rhCollagen-based dermal and soft tissue filler products with AbbVie is advancing according to plan Launch of large animal study for
About this update from Collplant Biotechnologies Ltd.
[{"type":"text","content":"Co-development of rhCollagen-based dermal and soft tissue filler products with AbbVie is advancing according to plan Launch of large animal study for Company's 3D bioprinted regenerative breast implant program is on track for Q2 2022Initiate development of a 3D bioprinted tissue model of the human intestine to support drug discovery and personalized medicine for inflammatory bowel diseases in Q3 2022 Reports strong balance sheet with cash and cash equivalents of $41M as of March 31, 2022REHOVOT, Israel, May 26, 2022 /PRNewswire/ -- CollPlant Biotechnologies (NASDAQ: CLGN), a regenerative and aesthetic medicine company developing innovative technologies and products for tissue regeneration and organ manufacturing, today announced business updates and financial results for the first quarter ended March 31, 2022.\n\n \n \n \n \n \n \n\n \n\"CollPlant continues to make important progress executing our internal pipeline and partnered programs, including our strategic agreement with AbbVie to co-develop dermal and soft fillers using our proprietary collagen technology. We believe that the technology being developed by this collaboration could be used in many medical applications, providing CollPlant with a significant potential commercial opportunity,\" said Yehiel Tal, CollPlant's Chief Executive Officer. \"We are fortunate to have a strong cash position, along with the potential to achieve meaningful milestone payments, that allows us to pursue our own development programs, including the 3D bioprinted breast implant program, which we expect to initiate a first large animal study this quarter. Additionally, we are gearing up for development initiation of a 3D bioprinted tissue model that emulates the human intestine, in Q3 2022. We believe there is a clear need for a human based in-vitro model to support drug development and personalized medicine applications for inflammatory bowel diseases.\"\n\"We are also exploring potential business development opportunities arising from the recently launched Collink.3D, our collagen-based Bioink platform that enables high fidelity bioprinting of tissues, organs and tissue models,\" added Mr. Tal. \"We see growing interest in our Bioinks from academic institutions and biopharma companies that are seeking innovative and cost-effective solutions for drug discovery and personalized medicine.\"\nRece...