logo-loader
viewCollagen Solutions PLC

Collagen Solutions' tissue business builds momentum

Snapshot

Company has posted its third consecutive six-month period of double-digit sales growth.

picture of a knee

Quick facts: Collagen Solutions PLC

Price: 1.125 GBX

LSE:COS
Market: LSE
Market Cap: £4.99 m
Follow
  • 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.

Finances

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.

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

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." 

Video

 

 

 

 

 

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Collagen Solutions PLC named herein, including the promotion by the Company of Collagen Solutions PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Collagen Solutions reports strong growth in its tissue business in first half

Collagen Solutions PLC's (LON:COS) Jamal Rushdy and Hilary Spence update Proactive London's Andrew Scott on first half performance - their third consecutive six-month period of double-digit sales growth. Revenues increased by 14% to £2.23mln in the period ended September 30. Tissue sales more...

on 3/12/19

2 min read