Collaboration Combines CollPlant’s Proprietary rhCollagen-based BioInk Technology and United Therapeutics’ Regenerative Medicine and Organ Manufacturing Capabilities
CollPlant (NASDAQ: CLGN) today announced the closing of a worldwide exclusive license, development and commercialization agreement with United Therapeutics Corporation (NASDAQ: UTHR) for 3D bioprinted lung transplants. Effectiveness of the agreement was subject to certain closing conditions which were all achieved, and the agreement became effective on November 9, 2018.
As previously announced, CollPlant granted United Therapeutics, through its wholly owned organ manufacturing and transplantation-focused subsidiary Lung Biotechnology PBC, an exclusive license to its technology for the production and use of rhCollagen-based BioInk for 3D bioprinted lung transplants throughout the universe. CollPlant will manufacture and supply BioInk for a few years to meet development process demand, and will provide technical support to United Therapeutics as it establishes a U.S. facility for the manufacture of CollPlant's rhCollagen and BioInk. In addition to the initial focus on lung manufacturing, the agreement grants United Therapeutics an option, exercisable for two years, to expand the field of its license to add up to three additional organs.
Yehiel Tal, Chief Executive Officer of CollPlant, stated, "We are happy to bring the strategic agreement with United Therapeutics to closing. CollPlant is committed to the success of the lung manufacturing program led by United Therapeutics that is pioneering the field of organ manufacturing. The technology to print lungs can be expanded to other lifesaving organs, and address the acute shortage of transplantable organs. We are actively expanding our activity in the field of 3D Bioprinting, and advancing new collaborations to develop new and unique products that will contribute to longevity and better life quality."
www.collplant.com
