15 January 2019
New Manufacturing Agreement for Excellagen® Collagen Wound Healing Matrix
Collagen Solutions plc (AIM: COS), the developer and manufacturer of biomaterials and regenerative medicines for the enhancement and extension of human life, announces that it has entered into a new agreement with Olaregen Therapeutix, Inc. ("Olaregen") to manufacture and produce Excellagen®, an advanced FDA 510(k)-cleared wound healing product indicated for the treatment of hard to heal wounds such as diabetic foot ulcers.
The Company originally assisted in the development of and manufactured Excellagen for Gene Biotherapeutics Inc. (formerly Taxus Cardium Pharmaceuticals Group Inc.) prior to 2014, who had been seeking a strategic partner for the launch of Excellagen®. Gene Biotherapeutics announced a transaction with Olaregen in September 2018 covering the sale of Excellagen® for wound healing. With these new agreements, Collagen Solutions is now supporting Olaregen's launch of Excellagen® in the first half of 2019.
Wound care products are designed to cure and treat a variety of complex wounds, both chronic and acute. Examples are diabetic foot ulcers, venous and pressure ulcers, burns, trauma and others for which Excellagen® is cleared for use. The rising incidence of difficult to treat wounds, resulting from increasing prevalence of diabetes and a rapidly ageing population, is driving growth in the wound care space and encouraging developments and innovations in enhanced wound care products, such as Excellagen®.
Commenting on the win, Jamal Rushdy, CEO says: "We are delighted to sign this contract with Olaregen and are excited to be part of the Excellagen launch. This new agreement is consistent with our strategy to move up the value chain by collaborating with industry partners to develop and launch innovative products designed to improve patients' lives."
"Olaregen is pleased to partner with the world class manufacturer, Collagen Solutions, to manufacture Excellagen, our initial product offering. We have the utmost confidence in Collagen Solutions to provide us with a high-quality product that meets mandated standards. This may be our most important partnership." said Anthony J. Dolisi, CEO of Olaregen.
|Collagen Solutions Plc||Via Walbrook|
|Jamal Rushdy, CEO|
|Hilary Spence, CFO|
|Cenkos Securities Plc (Nominated Adviser and Broker)|
|Steve Cox (Corporate Finance)||Tel: 0207 397 8900|
|Walbrook PR Ltd||Tel: 020 7933 8780 or email@example.com|
|Anna Dunphy||Mob: 07876 741 001|
|Helen Cresswell||Mob: 07841 917 679|