RNS & Investor News

New collagen supply agreement with NovaBone Products

07 July 2020

Collagen Solutions Plc (AIM: COS), the developer and manufacturer of biomaterials and regenerative medicines for the enhancement and extension of human life, announces it has entered into a new minimum three-year agreement with NovaBone Products (“NovaBone”), a designer and manufacturer of US FDA-cleared synthetic bone grafts.

NovaBone is a long-standing customer of Collagen Solutions. The companies began their collaboration in 2015 to develop and supply specialised collagen biomaterials specific to their line of bone graft products used in orthopaedic and dental applications. The agreement formalises a longer-term supply arrangement to ensure NovaBone has consistent and increased access to this specialised material to support their continued growth. 

NovaBone was recently acquired by Halma Plc (“Halma”) to enhance Halma’s presence in the orthopaedics market and fast-growing biologics segment. Halma is a diversified, blue chip, global group of life-saving technology companies focused on creating a safer, cleaner and healthier future for people worldwide.

Jamal Rushdy, CEO of Collagen Solutions, commented: "We are excited by NovaBone’s growth prospects and new backing by Halma to accelerate their growth plans. Both companies have worked collaboratively over the past several years to optimise a collagen formulation that meets the specific demands of NovaBone’s unique technology. We look forward to continuing to support our long-standing partner through their next phase of growth."

Art Wotiz, President of NovaBone, commented: "NovaBone is well positioned within the fast-growing orthobiologics market segment. Our line of bone graft biomaterials harnesses the body's natural healing process to accelerate bone healing, serving an important clinical need that is fuelling our growth. We are pleased to have Collagen Solutions as a long-term partner to support us along the journey."

 

Collagen Solutions Plc

 

Jamal Rushdy, CEO
Hilary Spence, CFO

Via Walbrook

Cenkos Securities Plc (Nominated Adviser and Broker)

 

Giles Balleny (Corporate Finance)
Stephen Keys

Tel: 0207 397 8900

Walbrook PR Ltd (Financial PR)
Anna Dunphy
 Tel: 020 7933 8780 or [email protected]

Mob: 07876 741 001

 

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, tissue engineering, 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.

FORWARD LOOKING STATEMENTS

This announcement (including any information incorporated by reference in this announcement), contains certain statements that are or may be deemed to be forward looking statements.  Such statements are prospective in nature.  All statements other than historical statements of fact may be forward looking statements.  Without limitation, statements containing the words "targets", "plans", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "estimates", "projects", “remain confident that” or "considers" or other similar words may be forward looking statements.

Forward looking statements are based on current expectations that involve or are subject to risks, changes in circumstance, assumptions and uncertainties.  Important factors such as business or economic cycles, the measures introduced in response to the COVID-19 pandemic, the terms and conditions of the Company’s financing arrangements, tax rates, or increased competition may cause the Company’s actual financial results, performance or achievements to differ materially from any forward looking statements.  Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward looking statements. The information in this announcement is provided only as at the date of its release, and the Company disclaims any obligation to update any forward looking or other statements contained herein, except as required by applicable law.

For more information go to: www.collagensolutions.com

A copy of this announcement will be available at  https://ir.collagensolutions.com/content/news/ir_news. For the avoidance of doubt, the content of the website referred to above is not incorporated into and does not form part of this announcement.

 

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