22 August 2018

AGM Statement

Delivering on our growth strategy

Collagen Solutions plc (AIM: COS), the developer and manufacturer of biomaterials and regenerative medicines for the enhancement and extension of human life, will hold its Annual General Meeting at 11am today at their offices at 3 Robroyston Oval, Nova Business Park, Glasgow, G33 1AP. At the meeting, Jamal Rushdy, CEO of Collagen Solutions will make the following statement:

"We are on track to meet our key initiatives for the year, including achieving financial performance to bring us in line with market expectations. Our commercial execution plans are on track, including the recently announced signing of new distribution partners in China and new development agreements closed in the first quarter of this year that offset a previously announced specific risk with a Korean customer. ChondroMimetic® is on track for both CE Mark and first-in-man surgery in this financial year, following a successful audit by our notified body regulator this month.

"We are currently in negotiations with multiple distributors in Europe, which we expect to conclude in parallel with the ChondroMimetic® CE Mark. We also recently completed the initial animal studies for our proprietary bone graft product that will support partner discussions at the upcoming North American Spine Society meeting in September. Operationally, our New Zealand restructuring initiative is delivering the expected synergies and benefits, as the assets related to collagen production and R&D have been relocated to the UK and USA respectively with operational setup and validation underway according to plan. The New Zealand team is now fully focused on the tissue business and has already identified several new customer opportunities. Finally, we will continue to deliver more visibility and metrics to our investors relating to the value and progress within our core business."

 

Enquiries:

Collagen Solutions Plc
Jamal Rushdy, CEO
Hilary Spence, CFO
Via Walbrook
Cenkos Securities plc (Nominated Adviser and Broker)
Steve Cox (Corporate Finance)
Stephen Keys
Tel: 0207 397 8900
Walbrook PR Ltd Tel: 020 7933 8780 or collagen@walbrookpr.com
Anna Dunphy Mob: 07876 741 001
Helen Cresswell Mob: 07841 917 679

 

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®. The Company's products are used in a wide variety of applications including orthopaedics, cardiovascular, dental, plastic surgery, wound healing, neurology and urology.

For more information go to: www.collagensolutions.com.