Collagen Solutions PLC Trading Statement (3986M)
13 October 2016 - 5:00PM
UK Regulatory
TIDMCOS
RNS Number : 3986M
Collagen Solutions PLC
13 October 2016
Collagen Solutions Plc
(the "Company" or the "Group")
Trading Update
Collagen Solutions plc (AIM: COS), the developer and
manufacturer of medical grade collagen-based biomaterials for use
in research, diagnostics, medical devices, and regenerative
medicine, announces that trading in the six months to 30 September
2016 of the current financial year was in line with management
expectations.
Revenue and other income is expected to be GBP1.90m, which
represents a 30% increase compared to revenue of GBP1.46m for the
same period last year.
Operationally this period has seen the benefits of the new
strategy that has been implemented following the appointment of
Jamal Rushdy as CEO in May of this year, including specific
strategic initiatives focused on building core business scalability
and advancing the R&D pipeline.
Regarding the progress of these initiatives, Jamal Rushdy
commented: "We completed hiring and training the additional direct
sales channel personnel, in line with our strategy, with commercial
managers now based in the USA, Korea, and UK, resulting in a more
active pipeline of business within North America, Asia Pacific, and
EMEA respectively. In addition, our OEM process improvements have
been implemented, resulting in improved customer bid throughput.
Finally, we have made progress on multiple fronts within R&D
including a recently announced grant opportunity with Horizon 2020;
initiation of additional internal projects focused on bone and
wound healing; and advancement of our ChondroMimetic programme,
focused on re-establishing the CE mark and initiating a 6+ year
post-marketing surveillance study, which will build on the
patients' data reported in the original six-month study."
About Collagen Solutions:
Collagen Solutions Plc is a global provider of medical grade
collagen formulations and components for use in regenerative
medicine, medical devices and in-vitro diagnostics and research.
The capabilities of the Company include the provision of native,
soluble and powdered collagen formulations, processed and
semi-processed tissues such as pericardium, bone, and blood
vessels, and expertise in the development and contract manufacture
of collagen components for use as engineered tissue scaffolds and
other medical devices. These products are used in a wide variety of
applications including orthopaedics, cardiovascular, dental,
plastic surgery, wound healing, neurology and urology. Collagen
Solutions' unique offering extends beyond material supply and
contract services through the highly skilled staff who support
customers through the various stages of development and regulatory
approval. For additional information, please visit
www.collagensolutions.com.
Enquiries:
Collagen Solutions Plc Contact via Walbrook
Jamal Rushdy, Chief Executive
Officer
Gill Black, Chief Financial
Officer
Cenkos Securities plc (Nominated Tel: 0207 397 8900
Adviser and Broker)
Stephen Keys
Steve Cox
Walbrook PR Tel: 020 7933 8780 or collagen@walbrookpr.com
Mike Wort Mob: 07900 608 002
Anna Dunphy Mob: 07876 741 001
This information is provided by RNS
The company news service from the London Stock Exchange
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