13 June 2017
Provisional patent for Bone Graft Substitute formulation submitted
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, announces it has submitted a provisional US patent application covering novel properties of a Bone Graft Substitute formulation.
The provisional patent is related to the Company's development programme for a novel Bone Graft Substitute that addresses approximately 30% of a $1.7 billion orthopaedic market for Bone Graft Substitutes in the United States. The provisional patent leverages the Company's extensive experience in the development of Bone Graft Substitute formulations and covers several novel, proprietary characteristics. These characteristics, which are related to the formulation's superior handling properties and inorganic particle retention, will enhance ease-of-use for the surgeon and ensure that the substitute remains at the operative site. The next steps in the development programme will be to finalise the device design and initiate animal studies which will be used in a 510(k) application for FDA approval.
Jamal Rushdy, CEO of Collagen Solutions, said: "We are encouraged by our Bone Graft Substitute product development work thus far, and this provisional patent application is a step towards realising the commercial potential of this project. In addition to our extensive internal expertise, we are guided by our recently-formed Scientific Advisory Board, which includes members with strong experience and demonstrated successes in the Bone Graft Substitute market."
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 orthopaedics, cardiovascular, dental, plastic surgery, wound healing, neurology and urology.
|Collagen Solutions Plc||Contact via Walbrook|
|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 firstname.lastname@example.org
Mob: 07900 608 002
Mob: 07876 741 001