CollPlant (NASDAQ: CLGN), a regenerative and aesthetic medicine company, announced it has entered into definitive agreements for up to $4.45 million. The capital raise is by way of a non-brokered private placement with U.S. accredited investors who have many years of deep experience in medical and 3D printing. The investment will allow them to continue developing groundbreaking innovations in the fields of wound treatment and medical aesthetics using their recombinant human collagen (rhCollagen) technology platform.
In connection with the offering, the Company will issue 445,000 American Depositary Shares (ADSs) of the Company at a price of $10.00 per ADS. The transaction does not include any warrants. The closing of the offering is expected to take place within seven business days, subject to the satisfaction of customary closing conditions.
“We are proud to welcome U.S. investors who have substantial knowledge of the primary activity areas of CollPlant and are in alignment with our corporate strategy,” stated Yehiel Tal, the Chief Executive Officer of CollPlant. “We intend to use these funds to continue to develop groundbreaking treatment options for patients through our recombinant human collagen (rhCollagen) technology platform. We look forward to sharing additional company updates on our clinical development programs and strategic partnerships in future announcements.”
The securities described above are being offered and sold in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended and Regulation D promulgated thereunder, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements.
About CollPlant NASDAQ: CLGN
Found in 1981, CollPlant is the first company to succeed in developing a plant platform that effectively expresses recombinant human collagen fibers extracted from Prof Oded Shoseyov’s proprietary transgenic tobacco plants which are six times tougher than the body’s own tendons and ligaments. CollPlant is a regenerative medicine company focused on 3D bioprinting of tissues and organs and medical aesthetics. CollPlant‘s products are based on our rhCollagen (recombinant human collagen) that is produced with CollPlant‘s proprietary plant-based genetic engineering technology.
Their products address indications for the diverse fields of organ and tissue repair and are ushering in a new era in regenerative medicine. Their flagship rhCollagen BioInk product line is ideal for 3D bioprinting of tissues and organs. Last year Collagen entered into a licensing agreement with United Therapeutics, whereby United Therapeutics is using CollPlant’s BioInks in the manufacture of 3D bioprinted lungs for transplant in humans.
For more information, visit CollPlant.