Proactiveinvestors United Kingdom Collagen Solutions PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Collagen Solutions PLC RSS feed en Tue, 18 Jun 2019 09:35:31 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Notice of Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190613142219_14110149/ Thu, 13 Jun 2019 14:22:19 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190613142219_14110149/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190610171342_14105487/ Mon, 10 Jun 2019 17:13:42 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190610171342_14105487/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190610170942_14105480/ Mon, 10 Jun 2019 17:09:42 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190610170942_14105480/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190607093835_14102985/ Fri, 07 Jun 2019 09:38:35 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190607093835_14102985/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190606142715_14101852/ Thu, 06 Jun 2019 14:27:15 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190606142715_14101852/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190606123559_14101696/ Thu, 06 Jun 2019 12:35:59 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190606123559_14101696/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190606095228_14101326/ Thu, 06 Jun 2019 09:52:28 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190606095228_14101326/ <![CDATA[RNS press release - Appointment of Non-Executive Director ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190606070008_14100520/ Thu, 06 Jun 2019 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190606070008_14100520/ <![CDATA[RNS press release - Result of General Meeting and Open Offer ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190605115023_14099774/ Wed, 05 Jun 2019 11:50:23 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190605115023_14099774/ <![CDATA[RNS press release - Investor presentation ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190523070010_14084420/ Thu, 23 May 2019 07:00:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190523070010_14084420/ <![CDATA[News - Collagen Solutions receives Stateside boost ]]> https://www.proactiveinvestors.co.uk/companies/news/220622/collagen-solutions-receives-stateside-boost-220622.html Collagen Solutions PLC (LON:COS) specialises in regenerative medicines and biomaterials. It uses collagen and other tissue – such as pericardium – to make everything from heart valves to bone grafts right through to wound dressings: it all depends on what the customer wants.

Collagen has another string to its bow in the form of a lead product called ChondroMimetic. This is a minimally-invasive, surgically-placed scaffold which helps repair knee cartilage.

Last February, results from an eight-year clinical extension study showed ChondroMimetic was able to regenerate cartilage to a structural quality almost identical to native cartilage. Work on a CE Mark, which would signify that the product has passed European safety, health and environmental protection requirements, began almost straight after those results came in.

Collagen had hoped to hear whether or not it had been successful by the end of March, but, with the process out of its hands, it admitted recently the timing of any award was “uncertain”. Currently, ChondroMimetic is not approved for sale in any market, but Collagen has been working hard behind the scenes so that it is ready for sale as soon as the CE Mark is awarded.

“While there is no news on the regulatory front, we are gearing up for ChondroMimetic,” said Jamal Rushdy on May 20.

Fundraiser provides third-party validation

On that same day, Collagen said it was to raise £6mln at a premium to its share price, with a multi-billion-dollar US agriculture company agreeing to pump in the majority of the cash. Rosen’s Diversified, the fifth largest beef processor in the US and valued by Forbes at over £2.4bn (US$3bn), invested £4.2mln into Collagen. A separate placing and open offer at the same price among existing investors was launched raise up to a further £1.8mln.

The Rosen’s investment followed a tissue collaboration with Scientific Life Solutions, which is part of the American combine. “The conversation expanded as we saw a tremendous opportunity to work together,” said CEO Rushdy.

Deploying the cash

Chief financial officer Hilary Spence said the funds would be invested as follows:

£3mln will be invested in product and customer development £1mln will be spent on expanding manufacturing capabilities £2mln go towards paying down debt and funding ongoing capital requirements Finances

In a trading statement on May 9, the company said its revenues for the 12 months to the end of March were a better than expected £4.15mln, up 18%. It exited the period with higher-than-anticipated £1.7mln in the bank.

Growth catalysts

Core business

New agreements from healthy deal pipeline Milestones from development agreements Customer product launches Tissue business acceleration ChondroMimetic Limited user release Additional distribution Product Pipeline Partnering product

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Mon, 20 May 2019 15:54:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220622/collagen-solutions-receives-stateside-boost-220622.html
<![CDATA[Media files - Collagen Solutions welcomes new institutional investor Rosen’s Diversified ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13411/collagen-solutions-welcomes-new-institutional-investor-rosens-diversified-13411.html Mon, 20 May 2019 08:50:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13411/collagen-solutions-welcomes-new-institutional-investor-rosens-diversified-13411.html <![CDATA[News - Collagen Solutions jumps as it raises £6mln at a premium, including investment from US agriculture giant ]]> https://www.proactiveinvestors.co.uk/companies/news/220563/collagen-solutions-jumps-as-it-raises-6mln-at-a-premium-including-investment-from-us-agriculture-giant-220563.html Collagen Solutions PLC (LON:COS) shares leapt higher on Monday as the firm said it is to raise £6mln at a premium to its current share price, with a multi-billion-dollar US agriculture company agreeing to pump in the majority of the cash.

Rosen’s Diversified, the fifth largest beef processor in the US and valued by Forbes at over £2.4bn (US$3bn), is to invest £4.2mln into Collagen through the purchase of 83.6mln shares at 5p apiece – almost 25% above Friday’s closing price.

READ: Collagen Solutions expects full-year revenues to beat market forecasts

A separate placing and open offer at the same price among existing investors will raise up to a further £1.8mln, and one major shareholder has already committed to taking up their entitlement of 8mln shares.

The money will allow Collagen to expand its contract manufacturing activities, develop new products, and help with the commercialisation of ChondroMimetic – its knee cartilage scaffold that is awaiting sign-off by European regulators.

It will also be used to pay off debts and fund working capital.

“We are pleased to welcome Rosen's Diversified Inc. as our strategic partner and anchor investor in this round,” said chief executive Jamal Rushdy.

“This funding round will support continued growth of our core business, including our supply of collagen and tissue biomaterials as well as new product development contracts activity, providing the company a solid foundation over the next several years.”

He added: “In addition, the funding will support our launch of ChondroMimetic following review and approval of the data we previously submitted to our Notified Body.”

Tissue supply deal agreed

Rosen’s strategic investment is part of its plans to get into the animal tissue-related biomedical products space.

AIM-quoted Collagen uses collagen and/or animal tissue, such as pericardium, to make everything from heart valves to bone grafts right through to wound dressings.

As well as investing in Collagen, Rosen’s Scientific Life Solutions subsidiary has agreed a deal which will see it supply tissue to the company.

In afternoon trading, shares in Collagen Solutions were 17.3% higher at 4.75p.

 -- Adds share price --

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Mon, 20 May 2019 07:32:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220563/collagen-solutions-jumps-as-it-raises-6mln-at-a-premium-including-investment-from-us-agriculture-giant-220563.html
<![CDATA[RNS press release - Strategic Investment, Placing and Open Offer ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190520070018_14079313/ Mon, 20 May 2019 07:00:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190520070018_14079313/ <![CDATA[Media files - Collagen Solutions CEO expects new business to boost full-year revenue, beating market forecasts ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/12967/collagen-solutions-ceo-expects-new-business-to-boost-full-year-revenue-beating-market-forecasts-12967.html Thu, 11 Apr 2019 09:18:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/12967/collagen-solutions-ceo-expects-new-business-to-boost-full-year-revenue-beating-market-forecasts-12967.html <![CDATA[News - Collagen Solutions expects full-year revenue to rise more than market forecasts ]]> https://www.proactiveinvestors.co.uk/companies/news/218201/collagen-solutions-expects-full-year-revenue-to-rise-more-than-market-forecasts-218201.html Collagen Solutions PLC (LON:COS) shares rose on Tuesday as the firm said it expects full-year revenue to rise more than market forecasts, driven by deals to develop collagen products on behalf of third parties.

The company, which uses collagen and/or tissue to make everything from heart valves to bone grafts through to wound dressings, estimates revenue will rise 18% to £4.15mln for the year ended March 31, up from £3.50mln last year, as growth seen in the first half continued.

In reaction, shares jumped 8.8% to 3.7p in morning trading. 

READ: Collagen Solutions raises around £215,000 from sale of small stake in private marine biotechnology firm, Jellagen

The group predicts the loss before tax will be lower than expected on the back of an improved top line and the £215,000 sale of its stake in Jellagen Ltd., the private marine biotechnology company focused on developing collagen biomaterials from jellyfish.

The cash balance at the end of the year was also better than anticipated at £1.7mln.

Collagen said it is still awaiting feedback on its application for a CE Mark for ChondroMimetic, minimally-invasive surgically placed scaffold that helps to repair knee cartilage.

A CE Mark would signify that the product has passed safety, health and environmental protection requirements.

ChondroMimetic is not approved for sale in any market yet but Collagen has established several distribution partners in Europe and Asia so it is ready when it gets the green light to proceed.

Trading in line since year-end

Collagen said since the end of the financial year, it has been trading in line with management’s expectations and “continues to build on the progress made in FY 2019, supported by the new business gained in the second half of the last financial year and current pipeline of new deals in process”.

"We are pleased with our delivery of high double-digit growth within our core business representing a substantial turn-around of performance from our prior financial year,” chief executive Jamal Rushdy.

“In addition, our increased mix of development services is a positive leading indicator of success in our strategy to move up the value chain. We look forward to providing a further update when we announce our preliminary results in July."

In late morning trading, Collagen Solutions' shares were 8.8% higher at 3.7p.

 -- Adds share price --

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Tue, 09 Apr 2019 07:30:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218201/collagen-solutions-expects-full-year-revenue-to-rise-more-than-market-forecasts-218201.html
<![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190409070010_14033364/ Tue, 09 Apr 2019 07:00:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190409070010_14033364/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190321113618_14010939/ Thu, 21 Mar 2019 11:36:18 +0000 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190321113618_14010939/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190221144928_13977655/ Thu, 21 Feb 2019 14:49:28 +0000 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190221144928_13977655/ <![CDATA[News - Collagen Solutions raises around £215,000 from sale of small stake in private marine biotechnology firm, Jellagen ]]> https://www.proactiveinvestors.co.uk/companies/news/214937/collagen-solutions-raises-around-215000-from-sale-of-small-stake-in-private-marine-biotechnology-firm-jellagen-214937.html Collagen Solutions PLC (LON:COS) has raised around £215,000 from the sale of its stake in Jellagen Ltd. the private marine biotechnology company focused on developing collagen biomaterials from jellyfish in a private transaction.

The AIM-listed developer and manufacturer of biomaterials and regenerative medicines said it had held a minority equity position in Jellagen since 2014 and also collaborated on technology development.

READ: Collagen Solutions signs new ChondroMimetic licence and distribution deal in Indonesia

The move to sell the stake follows the most recent investment round in Jellagen in which the Collagen did not participate, the company added.

Jamal Rushdy, Collagen Solutions’ CEO, commented: "We remain interested in Jellagen's progress as it continues to develop its jellyfish collagen cell culture products for the research markets, and our decision to divest our shares does not preclude future potential opportunities to collaborate with Jellagen.

“We are pleased with our return on this investment, which we can use to further support our own growth opportunities."

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Wed, 20 Feb 2019 08:10:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/214937/collagen-solutions-raises-around-215000-from-sale-of-small-stake-in-private-marine-biotechnology-firm-jellagen-214937.html
<![CDATA[RNS press release - Sale of Strategic Investment in Jellagen ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190220070005_13974926/ Wed, 20 Feb 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190220070005_13974926/ <![CDATA[News - Collagen Solutions waiting on CE Mark for ChondroMimetic knee cartilage scaffold ]]> https://www.proactiveinvestors.co.uk/companies/news/214902/collagen-solutions-waiting-on-ce-mark-for-chondromimetic-knee-cartilage-scaffold-214902.html  

What it does

As it name suggests, Collagen Solutions PLC (LON:COS) specialises in making regenerative medicines and biomaterials.

It uses collagen and/ or tissue – such as pericardium – to make everything from heart valves to bone grafts right through to wound dressings. It all depends on what the customer wants.

Collagen has another string to its bow though, in the shape of its lead product called ChondroMimetic.

ChondroMimetic is a minimally-invasive surgically placed scaffold which helps to repair knee cartilage.

Last February, results from an eight-year clinical extension study showed that ChondroMimetic was able to regenerate cartilage to a structural quality almost identical to native cartilage.

 

How it’s doing

Work on a CE Mark, which would signify that the product has passed safety, health and environmental protection requirements, began almost straight after those results came in.

Collagen had hoped to hear whether or not it had been successful by the end of March 2019, although with the process out of its hands, it recently admitted that the timing of any award is “uncertain”.

Currently, ChondroMimetic is not approved for sale in any market, but Collagen has been working hard behind the scenes so that it is ready for sale as soon as the CE Mark is awarded.

Most recently, it signed a licence and distribution agreement with Rajawali Medika which it will work with to obtain regulatory approval and launch the cartilage scaffold in Indonesia. There is the potential for this deal to include several other countries in South East Asia as well.

That agreement adds to similar deals it has already secured elsewhere in Asia and in Europe.

 

Revenues rise in first half

Away from ChondroMimetic, Collagen saw demand for its products surge in the first half of its financial year.

The AIM company won nine new contracts in the six months ended September 30 (H1 17: eight) and began to supply to sixteen new customers (H1 17: eight).

That helped to push revenue up by 13% year-on-year to £2.10mln (H1 17: £1.86mln). When adjusted for the loss of a key Korean customer, who is not expected to order again until next year, revenue grew by 55%.

The new contracts were typically higher value than those that had been signed in the past as well, narrowing the half-year pre-tax loss to £1.06mln (H1 17: £1.64mln).

At the end of the period, Collagen had £2.56mln of cash in the bank, although in January it secured a £1.54mln grant from the Scottish government.

 

What the boss is saying

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Mon, 18 Feb 2019 15:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/214902/collagen-solutions-waiting-on-ce-mark-for-chondromimetic-knee-cartilage-scaffold-214902.html
<![CDATA[RNS press release - Presenting at the Hardman Investor Forum ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190218070014_13972329/ Mon, 18 Feb 2019 07:00:14 +0000 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190218070014_13972329/ <![CDATA[RNS press release - Visit from Member of Scottish Parliament ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190204155552_13957615/ Mon, 04 Feb 2019 15:55:52 +0000 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190204155552_13957615/ <![CDATA[News - Collagen Solutions signs new ChondroMimetic licence and distribution deal in Indonesia ]]> https://www.proactiveinvestors.co.uk/companies/news/213685/collagen-solutions-signs-new-chondromimetic-licence-and-distribution-deal-in-indonesia-213685.html Regenerative medicines group Collagen Solutions PLC (LON:COS) has signed a new licence and distribution agreement for its knee cartilage scaffold ChondroMimetic with an Indonesian partner.

Rajawali Medika will work with Collagen to obtain regulatory approval and launch ChondroMimetic in Indonesia with the potential of several other South East Asian countries.

READ: Collagen Solutions signs manufacturing agreement for Excellagen wound-healing product

Collagen said the Jakarta-based company was “highly experienced” in selling and marketing medical devices in the Asia Pacific region and has a “strong network” of orthopaedic surgeons and sales distribution channels.

“We are pleased to enter the partnership agreement with Rajawali Medika for ChondroMimetic in South East Asia,” said chief executive Jamal Rushdy.

“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.”

ChondroMimetic is a minimally-invasive surgically placed scaffold which helps to repair knee cartilage.

Last February, results from an eight-year clinical extension study showed that ChondroMimetic was able to regenerate cartilage to a structural quality almost identical to native cartilage.

CE Mark timing ‘uncertain’

Work on a CE Mark application, which would signify that the product has passed safety, health and environmental protection requirements, began almost straight away.

Collagen had hoped to hear whether or not it had been successful by the end of March, although with the process being out of its control, it admits that the timing of any award is “uncertain”. Currently, ChondroMimetic is not approved for sale in any markets.

“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,” added CEO Rushdy.

Collagen Solutions shares rose 3.8% to 4.2p in late-afternoon trading on Thursday.

-- Adds share price --

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Thu, 31 Jan 2019 07:29:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213685/collagen-solutions-signs-new-chondromimetic-licence-and-distribution-deal-in-indonesia-213685.html
<![CDATA[RNS press release - ChondroMimetic® Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190131070003_13952626/ Thu, 31 Jan 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190131070003_13952626/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190116165237_13937167/ Wed, 16 Jan 2019 16:52:37 +0000 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190116165237_13937167/ <![CDATA[Media files - Collagen Solutions inks significant manufacturing deal for wound-healing product ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11865/collagen-solutions-inks-significant-manufacturing-deal-for-wound-healing-product-11865.html Wed, 16 Jan 2019 13:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11865/collagen-solutions-inks-significant-manufacturing-deal-for-wound-healing-product-11865.html <![CDATA[News - Collagen Solutions rises as it signs manufacturing agreement for Excellagen wound-healing product ]]> https://www.proactiveinvestors.co.uk/companies/news/212576/collagen-solutions-rises-as-it-signs-manufacturing-agreement-for-excellagen-wound-healing-product-212576.html Collagen Solutions PLC (LON:COS) shares moved up in early trading Tuesday after it signed a manufacturing agreement for the Excellagen product with Olaregen Therapeutix, a New York-based firm focused on products in the wound care market.

Under the agreement, AIM-listed Collagen will manufacture Excellagen for Olaregen following a deal signed in September 2018 between the latter and US biotechnology firm Gene Biotherapeutics, for whom Collagen originally made the product and assisted in its development.

READ: Collagen Solutions receives £1.54mln grant from Scottish government

Collagen said that following the agreement between Olaregen and Gene Bio, it was supporting the launch of Excellagen, which is scheduled for the first half of 2019.

Excellagen is designed to treat wounds that are often complex and difficult to heal such as diabetic foot ulcers, burns, and venous (leg) or pressure ulcers among others.

Jamal Rushdy, Collagen’s chief executive, said the new agreement was consistent with the group’s strategy of moving up the value chain by “collaborating with industry partners to develop and launch innovative products”.

Anthony J Dolisi, the chief executive of Olaregen, said the firm had “the utmost confidence” in Collagen, adding that the agreement “may be our most important partnership”.

Shares were up 1.4% at 3.7p.

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Tue, 15 Jan 2019 08:32:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212576/collagen-solutions-rises-as-it-signs-manufacturing-agreement-for-excellagen-wound-healing-product-212576.html
<![CDATA[RNS press release - New Manufacturing Agreement ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190115070008_13934388/ Tue, 15 Jan 2019 07:00:08 +0000 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190115070008_13934388/ <![CDATA[Media files - Collagen Solutions receives £1.54mln grant from Scottish government ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11713/collagen-solutions-receives-154mln-grant-from-scottish-government-11713.html Mon, 07 Jan 2019 16:10:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11713/collagen-solutions-receives-154mln-grant-from-scottish-government-11713.html <![CDATA[News - Collagen Solutions receives £1.54mln grant from Scottish government ]]> https://www.proactiveinvestors.co.uk/companies/news/212083/collagen-solutions-receives-154mln-grant-from-scottish-government-212083.html Glasgow-based Collagen Solutions PLC (LON:COS) has been awarded a grant of up to £1.54mln from the Scottish government as part of plans to grow the life sciences sector in the country.

The grant will cover more than a third of Collagen’s expected R&D costs – estimated to be in the region of £4mln – over the next three years.

WATCH: Collagen Solutions receives £1.54mln grant from Scottish government

“We are delighted that the Scottish Government, via its enterprise agency Scottish Enterprise, recognises that Collagen Solutions can help its vision of driving life sciences to an £8bn sector by 2025 and to this end is committing to invest significant funds into the Company,” said chief executive Jamal Rushdy.

“We are tremendously excited to have this support for the next generation of proprietary products in order to deliver value for the Scottish life sciences economy and our shareholders, as well as to support our mission to improve patients' quality of life worldwide.”

READ: Demand for Collagen Solutions’ products surges in first half

Anke Heggie, director of company growth at Scottish Enterprise added: "Life Sciences is a key growth sector for Scotland, with significant potential in terms of research capabilities and job creation.

“We're pleased to support Collagen Solutions in its continuing R&D work, which will help the company to grow and deliver economic benefits for the people of Scotland.”

Collagen shares surged 12% to 3.25p on the back of the news.

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Mon, 07 Jan 2019 15:58:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/212083/collagen-solutions-receives-154mln-grant-from-scottish-government-212083.html
<![CDATA[RNS press release - Award of £1.54 million Scottish Enterprise Grant ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190107154510_13926383/ Mon, 07 Jan 2019 15:45:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20190107154510_13926383/ <![CDATA[Media files - Collagen Solutions PLC 'performing well' as first half revenues rise ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11421/collagen-solutions-plc-performing-well-as-first-half-revenues-rise-11421.html Tue, 04 Dec 2018 10:16:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11421/collagen-solutions-plc-performing-well-as-first-half-revenues-rise-11421.html <![CDATA[News - Demand for Collagen Solutions’ products surges in first half ]]> https://www.proactiveinvestors.co.uk/companies/news/210448/demand-for-collagen-solutions-products-surges-in-first-half-210448.html Demand for Collagen Solutions PLC’s (LON:COS) regenerative medicines and biomaterials surged in the first half of its current financial year.

The AIM company won nine new contracts in the six months ended September 30 (H1 17: eight) and began to supply to sixteen new customers (H1 17: eight).

READ: Collagen looks to have put last year’s difficulties behind it

That helped to push revenue up by 13% year-on-year to £2.10mln (H1 17: £1.86mln). When adjusted for the loss of a key Korean customer, revenue grew by 55%.

The new contracts were typically higher value than those that had been signed in the past as well, narrowing the half-year pre-tax loss to £1.06mln (H1 17: £1.64mln).

“We remain on track to meet our key initiatives for the year including achieving our commercial execution plans and financial performance objectives in line with market expectation,” said chief executive Jamal Rushdy.

“Financially, we are performing well. The variation of the Bond Subscription Agreement with Norgine Ventures will allow us greater flexibility to exploit growth opportunities for future years.”

New Zealand restructuring; ChondroMimetic CE Mark

Collagen believes its ChondroMimetic knee cartilage scaffold is on track to receive a CE Mark by the end of March, with final data submission to be completed before the end of the year.

The company has struck deals with new European and Asian distributors, while discussions with “several more” are ongoing.

Earlier this year, Collagen announced it was restructuring its New Zealand business designed to see the division focus on tissue collection and processing.

As part of that, existing collagen production has been consolidated into the Glasgow headquarters, with much of that already completed.

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Tue, 04 Dec 2018 07:32:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210448/demand-for-collagen-solutions-products-surges-in-first-half-210448.html
<![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20181204070003_13889852/ Tue, 04 Dec 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20181204070003_13889852/ <![CDATA[RNS press release - Investor presentation ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20181107070005_13857602/ Wed, 07 Nov 2018 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20181107070005_13857602/ <![CDATA[Media files - Bond repayment amendment to give Collagen Solutions 'greater flexibility to exploit opportunities' ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11098/bond-repayment-amendment-to-give-collagen-solutions-greater-flexibility-to-exploit-opportunities--11098.html Mon, 05 Nov 2018 10:15:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11098/bond-repayment-amendment-to-give-collagen-solutions-greater-flexibility-to-exploit-opportunities--11098.html <![CDATA[RNS press release - Realignment of Bond Repayments ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20181105070005_13854101/ Mon, 05 Nov 2018 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20181105070005_13854101/ <![CDATA[Media files - Collagen Solutions 'well on track' with plans for CE Mark and first surgery by March ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/10968/collagen-solutions-well-on-track-with-plans-for-ce-mark-and-first-surgery-by-march-10968.html Wed, 24 Oct 2018 15:26:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/10968/collagen-solutions-well-on-track-with-plans-for-ce-mark-and-first-surgery-by-march-10968.html <![CDATA[News - Collagen Solutions expects to report jump in first-half revenues ]]> https://www.proactiveinvestors.co.uk/companies/news/207632/collagen-solutions-expects-to-report-jump-in-first-half-revenues-207632.html Collagen Solutions PLC (LON:COS) expects to report a surge in revenues when it publishes its first-half results at the beginning of December.

Revenue and other income are forecast to be £2.10mln for the six months to September 30, some 13% higher than the £1.86mln it achieved for the same period last year.

WATCH: Collagen Solutions 'well on track' with plans for CE Mark and first surgery by March

The AIM-quoted firm said its top-line performance had been buoyed by new development agreements closed in the first quarter, which more than offset previously announced delays in customer projects and inventory adjustments.

The development business is on track to account for almost half of overall revenue this year.

Collagen signed nine new customer deals in the first half (H1 17: eight), while the average expected value of those deals also increased.

The tissue business has several pending agreements which typically take three to six months to negotiate, with supply agreement expected to follow a further 12 to 18 months down the line.

CE Mark for ChondroMimetic

“We remain on track to meet our key initiatives for the year including achieving our commercial execution plans and financial performance objectives in line with market expectations,” said chief executive Jamal Rushdy.

“We are also continuing our planned rolling submission of data to support our goal of obtaining the CE Mark for ChondroMimetic this financial year. We are in negotiations with multiple distributors which we expect to conclude ahead of the limited user release planned to follow the ChondroMimetic CE Mark.”

READ: Collagen Solutions adds COO and CBO to board

He added: “Operationally, our New Zealand restructuring initiative is delivering the expected synergies and benefits according to plan and the New Zealand team is now fully focused on the tissue business and we are pleased with our progress so far.”

Interim results are due to be published on December 4.

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Tue, 23 Oct 2018 07:48:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/207632/collagen-solutions-expects-to-report-jump-in-first-half-revenues-207632.html
<![CDATA[RNS press release - Trading Update and Notice of Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20181023070002_13838162/ Tue, 23 Oct 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20181023070002_13838162/ <![CDATA[RNS press release - Biotech and Money's Inve$tival Showcase ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20181018070010_13833142/ Thu, 18 Oct 2018 07:00:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20181018070010_13833142/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20180926170430_13806021/ Wed, 26 Sep 2018 17:04:30 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20180926170430_13806021/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20180925150525_13804133/ Tue, 25 Sep 2018 15:05:25 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20180925150525_13804133/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20180919170143_13797276/ Wed, 19 Sep 2018 17:01:43 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20180919170143_13797276/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20180903122016_13776755/ Mon, 03 Sep 2018 12:20:16 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20180903122016_13776755/ <![CDATA[News - Collagen Solutions adds COO and CBO to its board ]]> https://www.proactiveinvestors.co.uk/companies/news/204036/collagen-solutions-adds-coo-and-cbo-to-its-board-204036.html Collagen Solutions PLC’s (LON:COS) chief operating officer and chief business officer have joined the regenerative medicines group’s board with immediate effect.

COO Tom Hyland joined Collagen in 2014 and has recently provided oversight of the firm’s development business and the reconfiguring its Glasgow operation. Lou Ruggiero joined as CBO back in April to focus on speed of delivery and execution within the commercial arena.

READ: Collagen on track to hit full-year targets

“We are delighted that Lou and Tom are joining the board. Between them they have a wealth of experience which we believe will help us deliver on our strategic goals and take us to the next level of growth,” said chairman David Evans.

Having joined the board, Hyland has been granted options over 1.5mln shares which can be exercised at today’s market price once the stock hits 10p as long as Collagen delivers sustainable positive cash flows from operations for at least six consecutive monthly periods.

In a separate announcement, Collagen confirmed it has tweaked the performance conditions for some outstanding share options to put them in line with the requirements for newer board members.

“As a result of the changes to the management team and board over time there was a significant misalignment in option incentivisation between the newer appointees and those appointed earlier,” said Evans.

“The Remuneration Committee is aware of the need to provide a balance between potential shareholder returns with adequate incentivisation and is of the view that the new targets set in relation to cash flow positivity and share price enhancement strike the right balance for the business going forward.”

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Mon, 03 Sep 2018 08:08:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204036/collagen-solutions-adds-coo-and-cbo-to-its-board-204036.html
<![CDATA[RNS press release - Board Appointments ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20180903070008_13775641/ Mon, 03 Sep 2018 07:00:08 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20180903070008_13775641/ <![CDATA[RNS press release - Executive Share Options Alignment ]]> https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20180903070007_13775594/ Mon, 03 Sep 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/8318/LSE20180903070007_13775594/