CollPlant Biotechnologies , or 'CollPlant', a regenerative and aesthetics medicine company developing innovative technologies and products based on its non-animal-derived collagen for tissue regeneration and medical aesthetics, today provided a corporate update.
CollPlant today announced it has been granted U.S. Patent No. 12,186,449 related to its photocurable dermal filler product candidate. The patent relates to polymerizable solutions that are comprised of modified recombinant human collagen (rhCollagen) and other constituents such as hyaluronic acid. The Patent will expire on 2 May 2039.
Mr. Yehiel Tal, Chief Executive Officer of CollPlant Biotechnologies, commented, "We are very proud of obtaining another U.S. patent for our photocurable product candidate. The photocurable filler is differentiated from existing fillers in the market since it is designed to enable tissue regeneration and tissue contouring in addition to offering superior skin lifting capacity. The U.S. is one of CollPlant's strategic target markets, and with the patents we are amassing for this candidate, as well as the duration of protection granted for each, this provides a significant achievement to strengthen our intellectual property in this important territory, as well as set a high barrier to entry for any competition."
Dermal Filler Program
Under CollPlant's existing development and commercialization agreement, CollPlant has granted AbbVie a worldwide exclusive license to use CollPlant's rhCollagen technology in combination with AbbVie's proprietary technologies for the production and commercialization of dermal and soft tissue fillers.
AbbVie is collecting data and conducting a review of interim results from the first cohort of patients enrolled in the dermal and soft tissue filler clinical trials initiated in 2023 and next steps for the program are to be determined upon complete assessment.
Separately, CollPlant announced today the receipt of a contingent payment with respect to CollPlant's rhCollagen, which, according to the development and commercialization agreement, triggers a $2 million payment from AbbVie to CollPlant.
Mr. Tal stated, "Our collagen has been fully characterized for its molecular, biological and physical properties, and is therefore considered an attractive scaffolding molecule for tissue regeneration, that is not eliciting an immune response" Tal added, "We plan to provide an update when the AbbVie clinical trial has concluded."
Cost Reductions in Place
CollPlant recently updated its expense forecast and has initiated a cost cutting and workforce reduction plan. CollPlant's updated allocation of resources is expected to result in a reduction in CollPlant's workforce by approximately 20% and based on current estimates, allow it to continue its business activities including those related to its primary research and development programs until at least the second quarter of 2026.
Mr. Tal added, "In 2025 CollPlant will focus its activities on advancing the development of its product candidate pipeline, including the development of the regenerative breast implant product candidate towards the clinical phase. I look forward to providing updates on our programs throughout the year."
In accordance with today's press release, please refer to CollPlant's latest corporate presentation that can be found on its website, www.collplant.com, within the Investors/Company Info/Presentations section, or you may access the updated presentation directly at the link here.
For more information please visit http://www.collplant.com
