- Growing tissues business
- Potentially breakthrough knee cartilage advance
- £5mln cash at last half-year
What the company does…
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.
In the six months to September 30, sales were up 14.4% to £2.23mln, while it won four new customer contracts and 10 new customers.
The impact of investment growing the business meant Collagen Solutions was loss-making – to the tune of £1.19mln at the pre-tax level.
More importantly, it exited the first half with just over £5mln on the bank.
- New agreements from healthy deal pipeline
- Milestones from development agreements
- Customer product launches
- Tissue business acceleration
- Limited user release
- Additional distribution
- Partnering product
What the bosses say: Jamal Rushdy, chief executive
As we previously announced, we are pleased to report the third consecutive six-month period of double-digit sales growth.
"We have shown particularly strong growth from our tissue business and also are continuing to bring on new customers and contracts from our global sales team."