Business
CollPlant Biotechnologies Provides Business Updates and Fiscal Year 2021 Financial Results
- Record revenues in 2021 of $15.6 million versus $6.1 million in 2020 - Continued progress of strategic agreement with AbbVie to develop dermal and soft
About this update from Collplant Biotechnologies Ltd.
[{"type":"text","content":"- Record revenues in 2021 of $15.6 million versus $6.1 million in 2020\n - Continued progress of strategic agreement with AbbVie to develop dermal and soft tissue filler products using CollPlant's rhCollagen\n - Company to advance 3D bioprinted regenerative breast implant program with launch of large animal study expected in Q2\n - Strong balance sheet with $43.3 million cash position, as of December 31, 2021\n\n\nREHOVOT, Israel, March 24, 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 fiscal year ended December 31, 2021.\n\n \n \n \n \n \n \n\n \n\"2021 was a highly productive and transformative year for CollPlant's R&D and business development activities. We started the year by entering into a development and commercialization agreement with Allergan Aesthetics, an AbbVie company, and later signed a co-development agreement with 3D Systems for a 3D regenerative soft tissue matrix intended for breast reconstruction,\" said Yehiel Tal, CollPlant's Chief Executive Officer. \"We also commercially launched Collink.3D™, a BioInk platform that enables high-fidelity bioprinting of tissues, organs and tissue models for drug discovery and high throughput screening for personalized medicine applications. Recently, we signed a collaboration agreement with CELLINK, a BICO company, to explore the development of large-scale production of our 3D bioprinted regenerative breast implants.\"\n\"The year ahead has anticipated development milestones for some of our leading programs, including the start of a large animal study in Q2 for our 3D bioprinted regenerative breast implant program which uses key insights from preclinical studies completed to date. We are also making continued progress with the development of BioInks for 3D bioprinting applications, and with development of a photocurable dermal filler. Furthermore, we have commenced activities to establish a U.S.-based 3D bioprinting center of excellence which is planned to be operating in early 2023\" concluded Yehiel Tal.\nRecent Corporate Highlights \nCollPlant is planning to initiate a large animal study for its 3D bioprinted regenerative breast implant program, aiming...