Business
CollPlant Biotechnologies Provides Business Updates and Second Quarter 2022 Financial Results
Co-development of rhCollagen-based dermal and soft tissue fillers with AbbVie is progressingCompany's 3D bioprinted regenerative breast implant program
About this update from Collplant Biotechnologies Ltd.
[{"type":"text","content":"Co-development of rhCollagen-based dermal and soft tissue fillers with AbbVie is progressingCompany's 3D bioprinted regenerative breast implant program remains on track to conclude large animal study in Q4Development of aseptic process for the production of sterile rhCollagen anticipated to be completed in Q4Strong balance sheet with cash and cash equivalents of $36M as of June 30, 2022REHOVOT, Israel, Aug. 25, 2022 /PRNewswire/ -- CollPlant Biotechnologies (NASDAQ: CLGN), a regenerative and aesthetic medicine company developing innovative human collagen-based technologies and products for tissue regeneration and organ manufacturing, today announced financial results for the second quarter ended June 30, 2022 and provided an update on the Company's business developments.\n\n \n \n \n \n \n \n\n \n\"I am very pleased with the company's execution and significant advances across our diverse and expanding product portfolio. We are targeting large commercial opportunities where we believe our recombinant human collagen (rhCollagen) has the ability to deliver performance and safety advantages,\" said Yehiel Tal, CollPlant's Chief Executive Officer. \"Our agreement with AbbVie to co-develop dermal and soft tissue fillers with rejuvenative properties for the medical aesthetic market is a perfect example of our strategy. We are excited by the direction of this program and continue as well to develop on our own the agreement's option products, including a photocurable dermal filler and an injectable breast implant.\" \n\"We also continue to make important progress with our 3D bioprinted regenerative breast implant program, and anticipate our first large animal study to conclude as planned by the end of 2022. Our collagen-based implants have the potential to meet an enormous unmet need by overcoming the safety challenges of existing breast procedures while promoting natural tissue regeneration. The results of this study, which will evaluate formulation, surgical technique, implant degradation rate and vascularization, will provide the basis for the design of a large pivotal study planned to begin in Q1 2023. We anticipate these studies to support advancement to human clinical trials\".\nRecent Corporate Highlights\nStrategic Collaboration Agreement with AbbVie: CollPlant's exclusive worldwide development and commercialization agreement wit...