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Collagen Solutions rises as it signs manufacturing agreement for Excellagen wound-healing product

Collagen will manufacture Excellagen for New York-based Olaragen following a deal signed in 2018 between the latter and Gene Biotherapeutics, for whom Collagen originally made the product

Excellagen box and syringe
Excellagen is designed to treat wounds that are complex and difficult to heal such as diabetic foot ulcers

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a deal signed in September 2018 between the latter and US biotechnology firm Gene Biotherapeutics, for whom Collagen originally made the product and assisted in its development.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.

Quick facts: Collagen Solutions PLC

Price: 3.25 GBX

LSE:COS
Market: LSE
Market Cap: £14.42 m
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