COS.L Regulatory News (COS)

Collagen Solutions Plc

(the "Company")

ChondroMimetic® Update

First Partner Deal Agreed with South Korean Partner

Collagen Solutions plc (AIM: COS), the developer and manufacturer of medical grade collagen and tissue components for use in regenerative medicine applications including orthopaedics, dental, wounds, and cardiovascular, announces its first partnering deal for ChondroMimetic® with a South Korean partner, Insung Medical Co. Ltd. ("Insung Medical"). Financial terms have not been disclosed.

ChondroMimetic® is a minimally-invasive surgically placed scaffold for the repair of cartilage defects in the knee. The company is expecting results from an eight-year clinical extension study to be reported in Q1 2018.  

Insung Medical, based in the Wonju Medical Industry Techno Valley near Seoul, was originally established in 1984 and focuses on manufacturing and sales of consumable surgical products to domestic and overseas markets. Insung's existing product range and sales provides access to multiple local markets in South Korea. Subject to approval, ChondroMimetic® will be commercialised by Insung Medical in collaboration with the existing Collagen Solutions commercial office in Seoul which will also provide technical and educational support.

Jamal Rushdy, CEO of Collagen Solutions, commented: "We are delighted to announce our first partnering deal with Insung Medical, providing early validation of the global commercial opportunity of ChondroMimetic®. Insung Medical's enthusiasm for the opportunity to commercialise ChondroMimetic® in South Korea aligns with our strategy to launch the product to address the unmet need for a simple, cost-effective and long-term clinically effective treatment for cartilage defects." 

Mr. In Keum Song, Chairman of Insung Medical added: "I am very delighted to partner with Collagen Solutions for its ChondroMimetic product line. I look forward to a long term positive business relationship with Collagen Solutions as we expand into new technologies". 

Following the anticipated completion of the aforementioned extension study next quarter, Collagen Solutions and Insung Medical will collaborate to apply for approval by the Korean Ministry of Food And Drug Safety (MFDS) in parallel with Collagen Solutions' application for the CE Mark for European approval. Expected timing of such MFDS approval is not determined at this time.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

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About Collagen Solutions:

Collagen Solutions Plc is a global supplier, developer, and manufacturer of medical grade collagen, tissues, and related medical devices and components for use in regenerative medicine, medical devices and in-vitro diagnostics and research. The Company is also expanding its range of biomaterials-based finished medical devices based on its internal and acquired intellectual property for commercialisation with partners via licensing and distribution arrangements, including ChondroMimetic®. The Company's products are used in a wide variety of applications including orthopaedics, cardiovascular, dental, plastic surgery, wound healing, neurology and urology.