Joint development and commercialization
agreement will initially focus on development of bioprinting
solution for CollPlant’s regenerative breast implants, addressing
$2.6 billion market opportunity
Stratasys’ P3 technology-based bioprinter
and CollPlant’s rhCollagen-based bioinks also ideal for future
innovation and production of additional human tissues and
organs
Companies to cross-promote respective
bioprinting products
Stratasys Ltd. (Nasdaq: SSYS) and CollPlant Biotechnologies
(Nasdaq: CLGN) today announced a joint development and
commercialization agreement to collaborate on the development of a
solution to bio-fabricate human tissues and organs using Stratasys’
P3 technology-based bioprinter and CollPlant’s rh-Collagen-based
bioinks. The first project focuses on the development of an
industrial-scale solution for CollPlant's regenerative breast
implants program.
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the full release here:
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Human size breast implant, printed with
Stratasys P3 3D printing technology and CollPlant's bioink. (Photo:
Business Wire)
Stratasys is a leader in polymer 3D printing solutions.
CollPlant is a pioneering regenerative and aesthetics medicine
company developing innovative technologies and products based on
its plant-based collagen for tissue regeneration and organ
manufacturing.
The new bioprinter, based on Stratasys’ precise P3™ 3D printing
technology in combination with CollPlant's flagship bioinks, will
enable the production of CollPlant’s state of the art breast
implants, which are being designed to regenerate an individual’s
natural breast tissue without eliciting immune response, providing
a potentially revolutionary alternative for both aesthetic and
reconstructive procedures.
Currently the global breast implant market is estimated to be
$2.6 billion,1 while breast reconstruction and augmentation
procedures represent the second most common plastic surgery
procedure performed worldwide today2. The most common breast
augmentation or reconstruction procedures today are based on
synthetic silicone breast implantations, an artificial substitution
for natural regenerated tissue with risks of complications.
Under the agreement, both companies have agreed to cross-promote
each other’s bioprinting products. Stratasys’ bioprinter will be
offered to customers together with CollPlant’s bioinks, and
similarly Stratasys’ bioprinter will be offered to CollPlant’s
business partners and customers.
“Through this partnership with CollPlant, we have an important
opportunity to transform healthcare with bioprinting to improve the
lives of patients undergoing breast augmentation or reconstruction
procedures,” said Stratasys CEO Dr. Yoav Zeif. “This agreement is
well-aligned with our strategy to deliver complete solutions for
high-growth industry applications with our ecosystem of partners,
and the production scale and precision 3D printing capabilities of
Stratasys’ P3 Programmable Photopolymerization technology are a
particularly strong fit for bioprinting applications. We believe
that partnering with CollPlant will enable us to accelerate the
industrialization of bioprinting for regenerative medicine, and we
look forward to collaborating towards the successful
commercialization of CollPlant’s novel regenerative breast implants
and beyond.”
Yehiel Tal, CEO of CollPlant, commented, “Stratasys is leading
in additive manufacturing and we are excited to collaborate with
them on this transformative initiative. The P3 technology allows
printing with high resolution and process control, and we believe
that the combined, pioneering technologies of both companies will
streamline the development and production process so that we have
the most efficient means to produce our regenerative breast
implants and other potential tissues and organs. We believe that
our rhCollagen-based regenerative implant has the potential to
overcome the challenges of existing breast procedures that use
silicone implants or autologous fat tissue transfer.”
In January 2023, CollPlant announced that it successfully
completed a large-animal study for its 3D bioprinted regenerative
breast implants. The preclinical study demonstrated progressive
stages of tissue regeneration after three months, as highlighted by
the formation of maturing connective tissue and neovascular
networks within the implants, with no adverse events reported.
Based on these positive results, CollPlant is planning to initiate
a follow-up, large-animal study in the second half of 2023 using
commercial-size implants to support subsequent human studies and
future product commercialization.
1 Breast Implant Market; Global Industry Trends, Share, Size,
Growth, Opportunity and Forecast 2023-2028, IMARC Group
2 ISAPS International Survey on Aesthetic/Cosmetic Procedures,
2021
About Stratasys
Stratasys is leading the global shift to additive manufacturing
with innovative 3D printing solutions for industries such as
aerospace, automotive, consumer products, healthcare, fashion and
education. Through smart and connected 3D printers, polymer
materials, a software ecosystem, and parts on demand, Stratasys
solutions deliver competitive advantages at every stage in the
product value chain. The world’s leading organizations turn to
Stratasys to transform product design, bring agility to
manufacturing and supply chains, and improve patient care.
To learn more about Stratasys, visit www.stratasys.com, the
Stratasys blog, Twitter, LinkedIn, or Facebook. Stratasys reserves
the right to utilize any of the foregoing social media platforms,
including the Company’s websites, to share material, non-public
information pursuant to the SEC’s Regulation FD. To the extent
necessary and mandated by applicable law, Stratasys will also
include such information in its public disclosure filings.
Stratasys and P3 are trademarks or registered trademarks and the
Stratasys signet is a trademark of Stratasys Ltd. and/or its
subsidiaries or affiliates. All other trademarks are the property
of their respective owners.
About CollPlant
CollPlant is a regenerative and aesthetic medicine company
focused on 3D bioprinting of tissues and organs, and medical
aesthetics. CollPlant's products are based on its recombinant human
collagen produced with its proprietary plant based genetic
engineering technology. These products address indications for the
diverse fields of tissue repair, aesthetics, and organ
manufacturing, and are ushering in a new era in regenerative and
aesthetic medicine.
In 2021 CollPlant entered into a development and global
commercialization agreement for dermal and soft tissue fillers with
Allergan, an AbbVie company, the global leader in the dermal filler
market.
For more information, visit http://www.collplant.com.
Safe Harbor for Forward-Looking Statements
This press release may include forward-looking statements.
Forward-looking statements may include, but are not limited to,
statements relating to Stratasys’ and/or CollPlant’s objectives,
plans and strategies, as well as statements, other than historical
facts, that address activities, events or developments that
Stratasys and/or CollPlant intend, expect, project, believe or
anticipate will or may occur in the future. These statements are
often characterized by terminology such as “believes,” “hopes,”
“may,” “anticipates,” “should,” “intends,” “plans,” “will,”
“expects,” “estimates,” “projects,” “positioned,” “strategy” and
similar expressions and are based on assumptions and assessments
made in light of the companies’ respective management’s experience
and perception of historical trends, current conditions, expected
future developments and other factors believed to be appropriate.
Forward-looking statements included in this press release include,
but are not limited to, statements regarding the following: the
companies’ ability to develop a 3D bioprinter that is based on
Stratasys’ P3™ 3D printing technology and can be used with
CollPlant's rhCollagen-based BioInk; CollPlant’s expectations
regarding the timing and cost of commencing pre-clinical and
clinical trials, or at all, with respect to breast implants,
tissues and organs based on its rhCollagen based bioinks and other
products for medical aesthetics; CollPlant’s ability to obtain
favorable pre-clinical and clinical trial results with respect to
the foregoing trials; regulatory action with respect to rhCollagen
based bioinks and medical aesthetics products including but not
limited to acceptance of an application for marketing authorization
review and approval of such application, and, if approved, the
scope of the approved indication and labeling; commercial success
and market acceptance of the companies’ combined 3D bioprinter
and/or future potential collaborative products involving Stratasys’
P3™ 3D printing technology and/or CollPlant's rhCollagen based
bioinks and/or CollPlant’s regenerative breast implants and/or
other medical aesthetics products; the companies’ ability to
establish sales and marketing capabilities or enter into agreements
with third parties, including third party distributors and
resellers; and the companies’ ability to establish and maintain
strategic partnerships and other corporate collaborations.
Forward-looking statements are not guarantees of future performance
and are subject to risks and uncertainties that could cause actual
results to differ materially from those expressed or implied in
such statements. Many factors could cause Stratasys’ or CollPlant’s
actual activities or results to differ materially from the
activities and results anticipated in forward-looking statements,
including, but not limited to, the following: CollPlant’s history
of significant losses, its ability to continue as a going concern,
and its need to raise additional capital and its inability to
obtain additional capital on acceptable terms, or at all; the
companies’ reliance on third parties to conduct some or all aspects
of the manufacturing of their products; the scope of protection the
companies are able to establish and maintain for their respective
and joint intellectual property rights and the companies’ ability
to operate their respective businesses and their joint
collaboration without infringing the intellectual property rights
of others; the overall global economic environment; the impact of
competition and new technologies; general market, political, and
economic conditions in the countries in which the companies
operate; projected capital expenditures and liquidity; changes in
the companies’ respective strategies; and litigation and regulatory
proceedings. More detailed information about the risks and
uncertainties affecting Stratasys and CollPlant are contained under
the heading “Risk Factors” included in Item 3.D of their most
recent annual reports on Form 20-F filed with the SEC on March 3,
2023 and March 29, 2023, respectively, and in other filings that
Stratasys and CollPlant have made and may make with the SEC in the
future. The forward-looking statements contained in this press
release are made as of the date of this press release and reflect
Stratasys’ and CollPlant’s current views with respect to future
events, and the companies do not undertake and specifically
disclaim any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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Stratasys Corporate & North America: Aaron Pearson
Aaron.pearson@stratasys.com 1-612-716-9228
Investor Relations: Yonah Lloyd Yonah.lloyd@stratasys.com
972-74-745-4919
Israel: Rosa Coblens Rosa.coblens@stratasys.com
852-9189-7273
EMEA: Jonathan Wake, Incus Media Stratasys@incus-media.com
44-1737-215200
CollPlant Eran Rotem, Deputy CEO & CFO Email:
Eran@CollPlant.com
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