Proactive Investors - Run By Investors For Investors

Collagen Solutions plc excited about ChondroMimetic progress as revenues grow

Revenue and other income was up by 30% to around £1.89mln versus £1.46mln in the same period last year.
Collagen Solutions plc excited about ChondroMimetic progress as revenues grow
ChondroMimetic is a collegen based implant to treat small cartilage and underlying bone defects.

Collagen-based biomaterials manufacturer Collagen Solutions PLC (LON:COS) is confident it can grow its revenue five times within the next five years, it said in latest half year results.

The six months to end September has seen considerable progress, it said, with continued momentum in its core biomaterials supply and manufacturing business leading to increased turnover.

Revenue and other income was up by 30% to around £1.89mln versus £1.46mln in the same period last year. The  pre-tax loss widened to around £983,000 from a loss of £356,000.

Of particular excitement is progress with its lead ChondroMimetic programme - one of three "finished device" projects , which the group is embarking on.

In 2015, Collagen acquired the assets and an exclusive worldwide licence for ChondroMimetic from Orthomimetics Limited (OL) and Cambridge Enterprise (CE).

It is a collagen-based implant to treat small osteochondral (cartilage and underlying bone) defects. The addressable market is estimated to be  over US$500 million.

The firm is now about to start a six-year retrospective study with new data to demonstrate long-term tissue regeneration with 3D MRI analysis as well as sustainability of the early positive functional results, as well as obtain the CE mark in 2017, it told investors.

Collagen appointed new chief executive Jamal Rushidy in May of this year and the company has started to see the benefits of the new strategy.

He said: "We now have greater clarity and visibility not only into our core business and near-term pipeline, but also with respect to specific strategic initiatives. Over the coming years, these initiatives will build upon the strong foundation of customers, people and technologies we have developed since the inception of the group."

View full COS profile View Profile

Collagen Solutions PLC Timeline

Related Articles

Drug discovery
April 04 2018
In the group’s 2017 results statement at the end of March, Ray Barlow - who took over as CEO on 6 April 2017 - commented: “We are now focused on the right activities"
Zelda's Stewart Washer at Proactive's CEO Sessions
November 17 2017
Stewart Washer at Proactive's CEO Sessions this week.
newspaper with word cancer magnified
January 15 2018
"In our view, the potential for SCIB1 [Scancell's skin cancer treatment], as already demonstrated by the survival data, is remarkable," said one broker recently

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use