03 April 2017
Agreement signed with Smart Matrix Limited
Collagen Solutions plc (AIM: COS), the developer and manufacturer of medical grade collagen components for use in regenerative medicine, medical devices and in-vitro diagnostics has signed a development and manufacturing agreement with Smart Matrix Limited (“SML”). Collagen Solutions (UK) Limited will develop and manufacture the Smart Matrix®, an advanced wound care scaffold, which is designed to close full thickness wounds and regenerate the dermis.
The global regenerative wound healing product market is estimated to be worth US$3.8bn and the Company believes this will be a growth area for both contract manufacturing and product development opportunities.
Smart Matrix® is a sponge-like scaffold technology that encourages the growth of skin cells and blood vessels into the wound bed and thus helps the body close skin-loss injuries, for example acute surgical wounds, where the deepest layer of the skin (the dermis) is lost. Preliminary clinical data suggests that, unlike currently available scaffolds, Smart Matrix® is not expected to require the use of an overlaying skin graft, which would make it a significant product in this market.
Commenting on the agreement, Jamal Rushdy, CEO of Collagen Solutions said: “We are excited to announce this new partnership with SML’s team at a very exciting stage of its growth. Our activities in the wound care space are increasing, and partners such as SML can benefit from our expertise in the manufacture of biomaterial based tissue scaffolds, and which can potentially deliver improved clinical outcomes in the treatment of large, chronic, complex and hard to treat wounds. This partnership is consistent with our early stage development activities with partners, with the benefit of recurring revenues from the project to be realised in future years when Smart Matrix® is in full commercial production, subject to regulatory approvals.”
Andy Hill, CEO of Smart Matrix added: “For an early stage medical device business like SML, identifying and choosing the right partners early is critically important. Our manufacturing needs are very specific and require a high level of skill and expertise that we know Collagen Solutions has. We are delighted to have been able to enter into this important partnership as we take our first steps on the path to commercialising Smart Matrix® and look forward to collaborating closely with the Collagen Solutions team”.
About Collagen Solutions:
Collagen Solutions Plc is a global supplier, developer, and manufacturer of medical grade collagen, tissues, and related medical devices and components for use in regenerative medicine, medical devices and in-vitro diagnostics and research. The Company is also expanding its range of biomaterials-based finished medical devices based on its internal and acquired intellectual property for commercialisation with partners via licensing and distribution arrangements, including ChondroMimetic, an osteochondral scaffold for repairing cartilage defects in the knee. The Company’s products are used in a wide variety of applications including orthopedics, cardiovascular, dental, plastic surgery, wound healing, neurology and urology.
For additional information on Collagen Solutions, please visit: www.collagensolutions.com
About Smart Matrix:
Smart Matrix Limited (‘SML’) was spun out of the Restoration of Appearance and Function Trust (“RAFT”), a medical research charity based at Mount Vernon hospital, Middlesex, UK, in late 2011.
SML is focused on the commercialisation of products from a proprietary platform technology developed by RAFT scientists based on a matrix manufactured from fibrinogen and thrombin, natural products of the healing process, and alginate, a product derived from seaweed and widely used in wound care products.
The first product developed from this platform is Smart Matrix®, a scaffold designed to help the body close surgical wounds and regenerate lost skin. Smart Matrix® works by encouraging the growth of skin cells and new blood vessels, critical to healthy healing.
SML has an exclusive, world-wide license to Smart Matrix® and first right of refusal to license other products developed by RAFT that are based on the underlying platform technology. The envisaged applications of the platform include potentially acute wound care, bone healing and regeneration, dental and soft-tissue repair.
For further information see: www.smartmatrix.co.uk
|Collagen Solutions Plc||Contact via Walbrook|
|David Evans, Chairman
Jamal Rushdy, Chief Executive Officer
Gill Black, Chief Financial Officer
|Cenkos Securities plc (Nominated Adviser and Broker)
|Tel: 0207 397 8900|
|Tel: 020 7933 8780 or email@example.com
Mob: 07900 608 002
Mob: 07876 741 001