Collplant receives first order for biological ink

CollPlant tobacco greenhouse, photo:PR

The ink is designed for 3D printing of organs and tissues for healing wounds.

CollPlant Holdings Ltd. (TASE: CLPT), which produces human collagen from genetically engineered tobacco plants, today reported its first order for the biological ink based on its collagen. The ink is designed for 3D printing. The order amounts to only a few hundred thousand shekels, but marks the company's entry into a new field.

CollPlant is a regenerative medicine company that focuses on the development and commercialization of products for repairing tissue. In its most recent reports, it listed the products on which it was currently focusing: "orthopedics, 3D printing of tissues and organs and advanced wound healing." CollPlant already has two products approved for marketing in Europe: one for treatment of inflamed tendons and one for treatment of wounds. To date, the company has posted no significant revenue from these products, which have been marketed for only a few months. The company actually started posting revenue only in the third quarter of 2016.

CollPlant's 3D printing product is designed to print tissue and organs. Its product serves as a foundation on which cells can be "printed" in order to generate organs. In a previous report about the company, CFO Eran Rotem said that products in this sector were likely to reach the market in 5-6 years, but that the order of several hundred thousand shekels was designated meanwhile for research. The company has agreements with two companies in 3D printing.

CollPlant develops and produces medical products based on human protein made out of tobacco plants. CollPlant, which is one of the medical companies on the TASE, was founded in 2004, and has offices in Ness Ziona. Following the news of the order, Collplant's share price jumped 4%, lifting its market cap to NIS 73 million. The company recently announced that following a $5 million financing round, it would be able to upgrade itself in the US from OTC to Nasdaq. As part of this measure, CollPlant announced that it was considering being delisted from the TASE, as BiondVax Pharmaceuticals Ltd. (Nasdaq: BVXV; (TASE:BVXV) and Cellect Biotechnology Ltd. (Nasdaq: APOP; TASE: APOP) had recently done. Parties at interest in CollPlant include Meitav Dash Investments Ltd. (TASE:MTDS), Docor, and Ami Sagi.

Published by Globes [online], Israel Business News - www.globes-online.com - on September 17, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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CollPlant tobacco greenhouse, photo:PR
CollPlant tobacco greenhouse, photo:PR
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