(Alliance News) - London-based Collagen Solutions PLC on Tuesday announced it has entered into a new minimum three-year agreement with NovaBone Products.
NovaBone, a designer and manufacturer of US Food & Drug Administration-cleared synthetic bone grafts, has collaborated with Collagen Solutions, developer and manufacturer of biomaterials and regenerative medicines, since 2015.
Together the pair develops and supplies specialised collagen biomaterials specific to their line of bone graft products used in orthopaedic and dental applications.
The agreement was a step to formalise a longer-term supply arrangement which ensures NovaBone has consistent and increased access to the specialised bone graft products.
Buckinghamshire, England-based Halma PLC recently acquired NovaBone to enhance its presence in the orthopaedics market and fast-growing biologics segment. Halma manufactures of a range of products that protect and improve the quality of life for people.
Collagen Solutions CEO Jamal Rushdy said: "We are excited by NovaBone's growth prospects and new backing by Halma to accelerate their growth plans. Both companies have worked collaboratively over the past several years to optimise a collagen formulation that meets the specific demands of NovaBone's unique technology."
Collagen Solutions shares were down 9.7% at 2.80 pence on Tuesday afternoon in London where Halma shares were also down 1.2% at 2,309.00 pence.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Halma (HLMA)