24 April 2017
Consolidation of US R&D activities and Board change
Consolidation of US R&D activities
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 plans to relocate its US R&D headquarters from San Jose to Minneapolis in the first half of this financial year. Collagen Solutions' business development activities rely on the close coordination between its global commercial and R&D teams and this move will bring these functions together at the same location. Leading the team will be Chris Wattengel, VP Global Research and Development, who has recently joined from Kensey Nash/DSM after a 16-year tenure, where he was involved in multiple 510(k) and CE-marked product clearances. He is extremely well placed to lead our growing portfolio of product development projects and has a wealth of relevant experience within the biomaterials space; specifically in cartilage devices, collagen, bone graft substitutes and tissue. It is also expected that the business will realise operational cost savings by merging the two sites, enabling the Company to further invest in its research and development projects.
In addition, Dr. Stewart White, will step down from the role of Chief Scientific Officer and leave the board of Collagen Solutions Plc to pursue other opportunities. This change will be effective from 30 June 2017 to ensure a smooth transition. After this time he will remain in a consultancy role and continue to participate as a member of the Scientific Advisory Board ("SAB").
Jamal Rushdy, CEO of Collagen Solutions commented: "Firstly I would like to thank Stewart who, as one of the founding members of Collagen Solutions, has been instrumental in the success of the Company to date. I am delighted that Stewart has agreed to continue as a member of the SAB and that we will continue to benefit from his knowledge and experience going forward.
Secondly, I would to like welcome Chris Wattengel to the Company as VP Global Research and Development. Chris has a strong heritage of launching new medical products and devices in a complex regulatory environment and this will be particularly valuable in relation to ChondroMimetic® and our other finished device programmes. Also, with Chris, myself and my commercial team based in Minneapolis I believe this greater proximity will help serve the needs of our growing North American customer base more effectively."
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 more information, visit www.collagensolutions.com
|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