CollPlant Biotechnologies Signs Distribution Agreement for its Vergenix Flowable Gel Product in the Commonwealth of Independent States (CIS)
PR Newswire PR Newswire•September 14, 2020
REHOVOT, Israel, Sept. 14, 2020 /PRNewswire/ --
Vergenix Flowable Gel product, a recombinant human collagen matrix for the management of acute and chronic wounds
Vergenix Flowable Gel product, a recombinant human collagen matrix for the management of acute and chronic wounds
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CollPlant has already received first order amounting to hundreds of thousands of U.S. dollars
Product distribution in six CIS countries expected to increase clinical use in new patient populations
Recent peer-reviewed publication further substantiates excellent clinical outcomes associated with Vergenix™ FG
CollPlant (NASDAQ: CLGN) a regenerative and aesthetic medicine company, today announced that it has signed an agreement for distribution of its Vergenix™ Flowable Gel (FG) product in six Commonwealth of Independent States (CIS) countries: Belarus, Kazakhstan, Georgia, Azerbaijan, Armenia and Uzbekistan.
The Company also reported that it has received the first order in an amount of hundreds of thousands of U.S. dollars. Based on deal terms, CollPlant will deliver a portion of the order immediately and the remainder over the next six months. The distributor is a Swiss-headquartered pharmaceutical group of companies and the agreement is for a five-year period.
"This distribution agreement will enable new patient populations in the CIS to benefit from Vergenix™ FG use, which has also already elicited positive feedback in Europe for rapid recovery of chronic wounds," said Yehiel Tal, CEO of CollPlant. "We are proud of the transformative potential of our recombinant human collagen platform technology that facilitates optimal treatment options for patients and remain open to additional collaborations that will bolster commercial infrastructure for Vergenix™ FG as well as support for our pipeline development efforts. At the same time, we continue to strategically focus on innovative applications of our rhCollagen in medical aesthetics and 3D Bioprinting of organs and tissues. "
Vergenix™ FG is based on the Company's rhCollagen technology and is a wound-care product designed to treat acute and chronic hard-to-heal wounds, such as diabetic ulcers, pressure sores, surgical cuts and trauma wounds. A single application of the product provides an optimized treatment for the healing process until full wound closure.
Recently, a study was published in The Diabetic Foot Journal, Vol 23 No 2 2020, by Iacopi E et al from the University Hospital in Pisa, Italy. The study demonstrated that Vergenix™ FG had excellent clinical outcomes in patients with post-surgical diabetic foot wounds. Vergenix™ FG has received CE marking and other regulatory approvals that allow sales and treatments in Europe, Israel and other countries.
