Business
CollPlant Biotechnologies Reports Year End Financial Results for Fiscal Year 2019
Revenues from BioInk and sales of goods increased by 157% Raised $10M in private placement and announced partnership with ARMI and 3D Biosystems to bolster
About this update from Collplant Biotechnologies Ltd.
[{"type":"text","content":"Revenues from BioInk and sales of goods increased by 157%\n Raised $10M in private placement and announced partnership with ARMI and 3D Biosystems to bolster organ and tissue bioprinting capabilities\n\n\nREHOVOT, Israel, April 1, 2020 /PRNewswire/ -- CollPlant (NASDAQ: CLGN), a regenerative and aesthetics medicine company, today announced financial results for the full year ended December 31, 2019 and provided an update on the Company's business developments. Certain metrics, including those expressed on an adjusted basis, are non-GAAP measures. See 'Use of Non-GAAP Measures' below.\n\n \n \n \n \n \n \n\n \n\"The last year was a monumental year for CollPlant and marked several key accomplishments including the progress with our strategic partnership with United Therapeutics, and the establishment of partnerships with Advanced Regenerative Manufacturing Institute (ARMI) and 3D Systems Corporations,\" stated Yehiel Tal, the Chief Executive Officer of CollPlant. \"Importantly, in the past year we have raised an aggregate of $10 Million in private placements that support our development of groundbreaking treatment options for patients through our recombinant human collagen (rhCollagen) technology platform. We remain obligated to provide transformative solutions through our medical aesthetics and regenerative medicine pipeline and we are grateful for the unwavering support of our employees and investors as we navigate through this global pandemic.\"\nFull Year 2019 and Recent Highlights\nrhCollagen Platform Technology Highlights and Upcoming Milestones\nAdvancing development of novel formulations comprised of rhCollagen and hyaluronic acid for dermal filler products used in medical aesthetics. Accelerating development of proprietary rhCollagen-based regenerative breast implants program and remain on track with animal study in H1 FY 2020. Continue to develop rhCollagen-based BioInks for 3D printed lung scaffolds in collaboration with United Therapeutics. Partnered with the Advanced Regenerative Manufacturing Institute (ARMI) that enables access to over 150 partner organizations that are developing next-generation manufacturing processes and technologies for cells, tissues and organs. Continue to develop \"Universal BioInk\" as member company in RegenMed Development Organization consortium (ReMDO), that is focused on advancing regene...