Collagen Solutions PLC ChondroMimetic® Update (5866O)
January 31 2019 - 2:00AM
UK Regulatory
TIDMCOS
RNS Number : 5866O
Collagen Solutions PLC
31 January 2019
31 January 2019
Collagen Solutions plc
("Collagen Solutions", the "Company" or the "Group")
ChondroMimetic(R) Update
Distribution Agreement with Indonesian Partner and Update on CE
Mark Process
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 license and distribution agreement for
ChondroMimetic(R) with an Indonesian partner, PT Rajawali Mutiara
Sejahtera ("Rajawali Medika"). Rajawali Medika will collaborate
with Collagen Solutions to obtain regulatory approval and launch
ChondroMimetic(R) in Indonesia with the potential to expand to
several other South East Asian countries. Financial terms of the
agreement were not disclosed.
Rajawali Medika, based in Jakarta, was founded and managed by
highly experienced professionals in sales and marketing of medical
devices in the Asia Pacific region. The team's prior experience
includes successful hands-on sales and marketing of sports medicine
and arthroscopy products with J&J's DePuy Mitek division.
Rajawali Medika has a strong network of key orthopaedic surgeons
and sales distribution channels in South East Asian countries,
experience in conducting professional education programmes and
workshops, as well as experience in regulatory affairs to achieve
speed to market.
ChondroMimetic(R) is a minimally-invasive surgically placed
scaffold for the repair of cartilage defects in the knee, backed by
positive results of an eight-year clinical extension study reported
in Q1 2018. The Company has made a submission for a CE Mark for
ChondroMimetic(R) and is currently awaiting further feedback from
the Notified Body reviewing the submission. The timing of the CE
Mark approval is subject to a due process to be undertaken by the
Regulatory Authority, and the previously stated timing of approval
by the fiscal year end is therefore uncertain. ChondroMimetic(R) is
not currently approved for sale in any markets.
Jamal Rushdy, CEO, commented: "We are pleased to enter the
partnership agreement with Rajawali Medika for Chondromimetic in
South East Asia. We will benefit enormously from both their
in-depth expertise in the area of sports medicine procedures as
well as their regional presence. This agreement adds to other
distributor agreements that we have been putting in place in Asia
and Europe in order to initiate our launch of Chondromimetic soon
after we obtain regulatory approval. We are currently awaiting
feedback regarding our CE Mark submission and we will provide an
update once new information becomes available and certainly no
later than our proposed April trading update."
Enquiries:
Collagen Solutions Plc
Jamal Rushdy, CEO Via Walbrook
Hilary Spence, CFO
Cenkos Securities Plc (Nominated
Adviser and Broker)
Steve Cox (Corporate Finance) Tel: 0207 397 8900
Giles Balleny
Walbrook PR Ltd Tel: 020 7933 8780 or collagen@walbrookpr.com
Anna Dunphy Mob: 07876 741 001
Helen Cresswell Mob: 07841 917 679
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDEAKFEDEKNEFF
(END) Dow Jones Newswires
January 31, 2019 02:00 ET (07:00 GMT)
Collagen Solutions (LSE:COS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Collagen Solutions (LSE:COS)
Historical Stock Chart
From Apr 2023 to Apr 2024