CollPlant provides corporate update

“This past year to date, we have progressed on all fronts – from advancing our collaborative programs, to gaining momentum on our proprietary programs as well as our marketed products. Specifically, we leveraged additional preclinical studies findings, refined a commercial design of our regenerative breast implants, gained an additional U.S. patent related to our photocurable dermal filler and also broadened the distribution network for our commercial product, Vergenix STR. On the aesthetic medicine front, following a development achievement we received a $2 million payment from our collaboration partner, AbbVie (ABBV). In tandem with our progress, we have also been very careful to optimize our costs. Therefore, we expect that our cash position, that has been supported by both milestone payments and incremental sales revenue, will allow us to be selective and support a capitalized path in the interest of our shareholders”, commented CollPlant’s (CLGN) Chief Executive Officer, Yehiel Tal. Under CollPlant’s existing development and commercialization agreement with development partner, AbbVie, CollPlant has granted AbbVie a worldwide exclusive license to use CollPlant’s rhCollagen technology in combination with AbbVie’s proprietary technologies for the development and commercialization of dermal and soft tissue fillers. The dermal filler product candidate is currently in the clinical phase and AbbVie is collecting data and conducting a review of interim results from the first cohort of patients enrolled under the trials initiated in 2023. Next steps for the program are to be determined by AbbVie upon concluding their assessment. In February 2025, following a development achievement, CollPlant received a $2 million payment from AbbVie, according to the development and commercialization agreement.