CollPlant Expands Distribution for its VergenixSTR Product in Europe and Asia
MWN-AI** Summary
CollPlant Biotechnologies (NASDAQ: CLGN), a leader in regenerative and aesthetic medicine, has announced the expansion of its distribution for the innovative Vergenix™ STR product across Europe and Asia. VergenixSTR, developed from the company’s proprietary rhCollagen technology, is primarily used to treat tendinopathy by facilitating healing in various tendon injuries, such as tennis elbow and Achilles tendon issues.
The company recently signed distribution agreements with firms located in the Netherlands, Turkey, and India, aiming to enhance sales in these regions, including the Benelux countries and Spain. The new distributor in the Benelux region and Spain has medical device sales expertise, particularly in orthopedics, with the first shipment occurring in February 2025. Meanwhile, Turkish and Indian distributors are in the process of securing local regulatory approvals to begin sales of VergenixSTR later in 2025.
CEO Yehiel Tal expressed enthusiasm regarding the market potential for VergenixSTR, highlighting its unique capability to treat tendon injuries by creating a gel matrix that allows for the sustained release of growth factors, thus optimizing healing. The soft tissue repair matrix combines cross-linked rhCollagen with platelet-rich plasma (PRP), providing a scaffold that supports cell proliferation and localized healing by holding the concentrated platelets in proximity to the injury site.
CollPlant's expansion aligns with its strategic goals to broaden its global reach and enhance availability in key markets, thereby potentially increasing its market share in the burgeoning sector of regenerative medicine.
MWN-AI** Analysis
CollPlant Biotechnologies (NASDAQ: CLGN) is positioning itself to capitalize on emerging markets for its Vergenix™ STR product through recent distribution agreements in Europe and Asia. This regenerative tissue treatment targets tendinopathy and enhances healing through its unique rhCollagen technology. The strategic partnerships with distributors in the Netherlands, Turkey, and India indicate a strong push to penetrate these regions, which could significantly expand customer reach and revenue potential.
Investors should consider the implications of this development. Firstly, the product's innovative mechanism—releasing growth factors at injury sites—positions it competitively within the burgeoning regenerative medicine market, which is expected to grow substantially due to rising incidences of musculoskeletal disorders and increased awareness about advanced therapeutic options. The successful entry into markets like Turkey and India, where healthcare infrastructure continues to evolve, can be significant, given the increasing demand for orthopedic treatments in these regions.
CollPlant’s recent partnerships show promise, but potential investors should remain cautious. The company has a history of losses and the requirement for additional capital funding may come into play as they expand. The necessity for regulatory approvals marked by various geographical complexities, especially in the EU and Asia, presents another layer of risk.
However, positive market feedback from initial customers and an efficient rollout could propel stock performance. Additionally, ongoing collaborations with established medical entities, such as Allergan, may bolster credibility and provide further sales synergies.
In conclusion, while CollPlant's advances in gaining distribution in Europe and Asia are promising, stakeholders should weigh the opportunities against inherent risks in the biopharmaceutical landscape. Diligent monitoring of their sales execution and market reception will be key for making informed investment decisions moving forward.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
REHOVOT, Israel , Feb. 24, 2025 /PRNewswire/ -- CollPlant Biotechnologies (NASDAQ: CLGN), or "CollPlant", a regenerative and aesthetics medicine company developing innovative technologies and products based on its non-animal-derived collagen for tissue regeneration and medical aesthetics, today announced the expansion of its distribution channels for its Vergenix™ STR product, in Europe and Asia . VergenixSTR is based on the Company's rhCollagen technology and is intended for the treatment of tendinopathy by promoting healing and repair of tendon injuries in a variety of tendons including the elbow tendon (for treatment of "tennis elbow"), rotator cuffs, patellar tendons, the Achilles tendon, and hand tendons. Specifically, CollPlant recently signed distribution agreements for VergenixSTR with distributor companies located in the Netherlands , Turkey and India , for sales in the territories of the Netherlands , Belgium , Luxemburg ("Benelux"), Spain , India and Turkey .
The new distributor for Benelux and Spain has expertise in medical device sales, with a focus on orthopedics, and CollPlant made the first shipment to this distributor in February 2025 . The distributors in Turkey and India , companies that specialize in medical devices including product distribution capabilities, are finalizing the process with their local regulatory authorities, with an objective to commence VergenixSTR sales in 2025.
Yehiel Tal , Chief Executive Officer of CollPlant, commented, "As we expand the distribution network in the Europe and Asia-Pacific regions, we are very excited to see the market potential for VergenixSTR. VergenixSTR is offering a differentiated treatment for tendon injuries, by forming a gel matrix that enables localized sustained release of growth factors at the injury site allowing for optimal healing. We look forward to taking additional steps this year to further expand our distribution network for VergenixSTR to other territories.
About Vergenix STR
VergenixSTR is a soft tissue repair matrix that combines cross-linked rhCollagen with Platelet-rich plasma, or PRP, a concentrated blood plasma that contains high levels of platelets, a critical component of the healing process. Platelets contain growth factors that are responsible for stimulating tissue generation and repair, including soft tissue repair, bone regeneration, development of new blood vessels, and stimulation of the wound healing process. VergenixSTR serves as a scaffold to support cell proliferation and the release of growth factors. The product is injected into the affected area and forms a viscous gel matrix which serves as a temporary reservoir for PRP in the vicinity of a tendon injury site, holding the platelet concentrate in place at the injured area. The matrix formed has the capabilities to activate the platelets in PRP, thereby releasing growth factors in a controlled manner and controlled biodegradation time, enabling optimal healing.
About CollPlant Biotechnologies
CollPlant is a regenerative and aesthetic medicine company ushering in a new era of medical solutions with a focus on 3D bioprinting of tissues and organs, tissue repair 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.
In 2021, CollPlant 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 about CollPlant, visit http://www.collplant.com
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 such as expectations regarding the market potential of VergenixSTR. 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: the Company's history of significant losses, its need to raise additional capital and its inability to obtain additional capital on acceptable terms, or at all, including uncertainties surrounding the methods of fundraising and the Company's preferences regarding such methods; the Company's expectations regarding the costs and timing of commencing and/or concluding pre-clinical and clinical trials with respect to breast implants, tissues and organs which are based on its rhCollagen based BioInk and other products for medical aesthetics, and specifically the Company's ability to initiate its next large-animal study for its breast implants in a timely manner, or at all; the Company's or Company's strategic partners' ability to obtain favorable pre-clinical and clinical trial results, including with respect to the Company's dermal filler product; regulatory action with respect to rhCollagen-based bioink and medical aesthetics products or product candidates 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 Company's rhCollagen based products, in 3D Bioprinting and medical aesthetics; the Company's ability to establish sales and marketing capabilities or enter into agreements with third parties and its reliance on third party distributors and resellers; the Company's ability to establish and maintain strategic partnerships and other corporate collaborations, including its partnership with AbbVie and its ability to continue to receive milestone and royalties payments under the AbbVie agreement; the Company's reliance on third parties to conduct some or all aspects of its product development and manufacturing; the scope of protection the Company is able to establish and maintain for intellectual property rights and the Company's ability to operate its business without infringing the intellectual property rights of others; current or future unfavorable economic and market conditions and adverse developments with respect to financial institutions and associated liquidity risk; the impact of competition and new technologies; general market, political, and economic conditions in the countries in which the Company operates, including, with respect to the ongoing war in Israel , projected capital expenditures and liquidity, changes in the Company's strategy and development plans and projects,, and litigation and regulatory proceedings. More detailed information about the risks and uncertainties affecting CollPlant are contained under the heading "Risk Factors" included in CollPlant's most recent annual report on Form 20-F 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 CollPlant does not undertake and specifically disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts
CollPlant:
Eran Rotem
Deputy CEO & CFO
Tel: + 972-73-2325600
Email: Eran@collplant.com
Investors:
LifeSci Advisors
Dan Ferry
daniel@lifesciadvisors.com
Photo: https://mma.prnewswire.com/media/2626017/COLLPLANT_VergenixSTR.jpg
Logo: https://mma.prnewswire.com/media/2217353/CollPlant_Logo.jpg
SOURCE CollPlant
FAQ**
How does CollPlant Holdings Ltd. CLGN plan to leverage the distribution agreements signed in the Netherlands, Turkey, and India to maximize the market potential for VergenixSTR in these regions?
What specific strategies is CollPlant Holdings Ltd. CLGN implementing to ensure regulatory compliance for VergenixSTR sales in Turkey and India before the anticipated 20launch?
Can you elaborate on the competitive advantage that VergenixSTR offers in tendon injury treatment relative to existing therapies, as highlighted by CollPlant Holdings Ltd. CLGN?
What future expansions does CollPlant Holdings Ltd. CLGN foresee for its distribution network in Europe and Asia beyond the current agreements for VergenixSTR?
**MWN-AI FAQ is based on asking OpenAI questions about CollPlant Holdings Ltd. (NASDAQ: CLGN).
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