Regenerative medtech Collagen Solutions PLC (LON:COS) is to go it alone in China after ending its joint venture with distributor Cre8ive.
Through the JV, Collagen had agreed import licences for its tissue material, established a pipeline of potential customers and signed two agreements, but having full control from now on would mean more flexibility.
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Collagen has engaged a specialist in matching foreign medical device companies with first-tier distributors across China to help drive sales.
Jamal Rushdy, chief executive, said: “This new arrangement is critical to the development of Collagen Solutions' sales and distribution channels within China and is well aligned with the 'Chinese culture' of successfully engaging with partners”.
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“We are optimistic regarding the potential to realise growth from this significant market." Collagen has three legs to its business: the supply of tissue; bespoke development work and a new cartilage implant ChondroMimetic, where results from a major trial are due shortly.