The companies are in talks on the terms of the next stages to develop prototype recombinant collagen product for bone and collagen repair.
CollPlant Holdings Ltd. (TASE: CLPT) today announced that it has successfully completed the first phase of its collaboration with Pfizer Inc. (NYSE: PFE; LSE:PFZ) for the joint development of prototypes of CollPlant's recombinant collagen product for bone and collagen repair and the conduct of small animal preclinical trials.
The companies signed the collaboration agreement in November 2010. Collagen developed human recombinant collagen from tobacco plants. CollPlant said that the companies were in talks on the terms of the next stage of the collaboration to develop prototype products for the treatment of a range of orthopedic problems.
Following the Pfizer deal, CollPlant also signed a collaboration agreement with Edwards LifeSciences Corporation (NYSE: EW) to jointly develop prototypes of two proprietary collagen-based cardiovascular products.
CollPlant's share price rose 9.7% by midday today to NIS 0.96, giving a market cap of NIS 115 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 26, 2011
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