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22 Jun 2015 07:00
Collagen Solutions Plc
(the "Company" or the "Group")
Innovate UK Grant Award for partnership with Electrospinning
Collagen Solutions plc (AIM: COS), the developer and manufacturer of medical grade collagen components for use in regenerative medicine, medical devices and in-vitro diagnostics, is pleased to announce a grant award from Innovate UK's Technology Strategy Board. The Electrospinning Company Ltd ('Electrospinning') in partnership with the Company have won an Inspired Feasibility Competition to develop a novel bio-synthetic substance for use in internal wound healing.
The Company will provide the raw materials needed to develop a novel bio-synthetic substance for use in internal wound healing. In addition Collagen and Electrospinning will combine their expertise in synthetic and biological materials to develop the material that combines the advantages of synthetic polymers such as flexibility, strength and consistency, with the bio-performance advantages of collagen, such as providing cell recognition sites for cell adhesion, proliferation and ultimately improved tissue regeneration at wound sites.
Stewart White, CEO of Collagen Solutions plc said: "We are delighted to have been chosen by The Electrospinning Company for this project. The global market for surgical meshes, for example for hernia repair, is over $1 billion (Frost & Sullivan) growing at over 6% CAGR (Transparency market research 2013), driven by increasing obesity and aging populations. Yet despite being a well-established market there remain unmet needs and attractive opportunities for advanced mesh materials which promote rapid healing and reduce the risk of rejection and infection."
Enquiries:
Collagen Solutions Plc |
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Stewart White, CEO | Tel: 0141 558 2008 |
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Zeus Capital (Nominated Adviser and Broker) |
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Ross Andrews | Tel: 0161 831 1512 |
Alex Davies | Tel: 020 7533 7727 |
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Panmure Gordon & Co (Joint Broker) Robert Naylor (Corporate Finance) Maisie Atkinson (Corporate Broking) |
Tel: 0207 8862 714Tel: 020 7886 2905 |
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Walbrook PR Ltd | Tel: 020 7933 8780 or collagen@walbrookpr.com |
Anna Dunphy | Mob: 07876 741 001 |
Mike Wort | Mob: 07900 608 002 |
About The Electrospinning Company Ltd
The Electrospinning Company designs, develops and manufactures polymer scaffolds for use in regenerative medicine, medical devices and drug discovery. The company works out of clean rooms at the Rutherford Appleton Laboratory in Harwell Oxford and has ISO 13485 medical device quality certification.
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