Shares in Collagen Solutions PLC (LON:COS) edged higher on Monday morning after the medical grade collagen manufacturer launched a new business-to-consumer (B2C) web-based business in the US.
The online store will sell standard collagen products directly to end users in the research market.
The Minneapolis-headquartered group called the online offering an “important initiative” as it directly connects COS with its end users and allows it to better understand and address the purchasing needs of researchers.
The company told investors that, in the longer-term, that should help it to make sure it’s supplying the right products to the right markets, the company told investors.
“This initiative serves three purposes for Collagen Solutions,” said chief executive Jamal Rushdy.
“First, it increases our access to the estimated US$200m global market for cell culture reagents.
“Secondly, it gives us a direct link with the end users of our products so that we can understand their needs and how the market for collagen is evolving.
“Finally, it establishes Collagen Solutions as the go-to collagen supplier among investigators.”
Shares gained 5% to 5.14p on Monday morning.