CollPlant Signs Exclusive Distribution Agreement With Arthrex For Vergenix™STR
11/9/2016 12:41:49 PM
NESS ZIONA, Israel, November 8, 2016 /PRNewswire/ --
CollPlant Ltd. (TASE: CLPT), a regenerative medicine company utilizing its proprietary plant-based recombinant human collagen (rhCollagen) technology for tissue repair products, today announced that it has signed an exclusive distribution agreement with Arthrex for Vergenix™STR for the treatment of tendinopathy. Under terms of the agreement, beginning December 1, 2016, Arthrex will serve as the exclusive distributor of CE Marked Vergenix™STR in Europe, the Middle-East, India and certain African countries. The agreement includes common commercial terms and the first order is expected to be supplied next month.
Yehiel Tal, Chief Executive Officer of CollPlant, stated, "We are honored to have solidified this relationship with Arthrex, a worldwide leader in the orthopedic space. With a well established reputation and global footprint, Arthrex is the perfect partner for Vergenix™STR, which has shown to provide superior tendinopathy healing characteristics versus published results from steroid treatments, currently regarded as the standard of care."
"We are extremely pleased to partner with CollPlant for the distribution of the company's novel, Vergenix™STR treatment for tendinopathy," noted Stefan Krupp, Managing Director of Arthrex GmbH. "We consider CollPlant's rhCollagen-based technology to be revolutionary, and believe that, over time, our collaboration with CollPlant will expand to additional therapeutic areas."
Arthrex is a leading medical orthopedic products company. The company operates throughout the world and has developed over 10,000 products and medical procedures. Arthrex's corporate headquarters is located in Southwest Florida. Additional locations include a global division in Munich, Germany as well as several subsidiaries and distribution centers throughout, among others, Europe - Middle East - Africa (EMEA). Also see the following Arthrex website: https://www.arthrex.com/corporate/aboutus
Vergenix™STR is primarily made of crosslinked recombinant human collagen (rhCollagen) and is intended to be combined with platelet-rich plasma (PRP), a concentrated blood plasma derived from the patient's own blood that contains high levels of platelets, which are critical to the healing process. Platelets contain growth factors which are responsible for stimulating tissue generation and repair, including soft tissue repair, bone regeneration, development of new blood vessels, and stimulation of the healing process. Upon administration, CollPlant's Vergenix™STR serves as a scaffold to support cell adhesion and proliferation involved in tendon healing, while maintaining growth factor-containing PRP in the vicinity of the injury. After injection into the affected area, the product forms a viscous gel matrix, holding the platelet concentrate in place. The formed matrix then has the ability to release growth factors in a controlled manner and with controlled biodegradation time, thereby enabling optimal healing.
CollPlant is a regenerative medicine company leveraging its proprietary, plant-based recombinant human collagen (rhCollagen) technology for the development and commercialization of tissue repair products, initially for the orthobiologics and advanced wound care markets. The Company's cutting-edge technology is designed to generate and process proprietary rhCollagen, among other patent-protected recombinant proteins. Given that CollPlant's rhCollagen is identical to the type I collagen produced by the human body, it offers significant advantages compared to currently marketed tissue-derived collagen, including improved biofunctionality, superior homogeneity and reduced risk of immune response. The Company's broad development pipeline includes biomaterials indicated for orthopedics and advanced wound healing. Lead products include: Vergenix™STR (Soft Tissue Repair Matrix), for the treatment of tendinopathy; Vergenix™FG (Flowable Gel) wound filler, for treatment of acute and chronic wounds, and a surgical matrix that we co-develop with Bioventus llc., for use in spinal fusion procedures and trauma. CollPlant's business strategy includes proprietary development and manufacture of tissue repair products and their commercialization and distribution, together with leading third parties, alongside alliances with leading companies for joint development, manufacture and marketing of additional products.
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