CollPlant Secures $5.5 Million Funding to Advance 3D Bioprinting of Tissues and Organs

On September 5, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology and medical device company CollPlant announced the completion of a $5.5 million financing round (the specific round was not disclosed).

CollPlant plans to use the funds from this financing round to develop 3D bioprinting technology and apply it in the fields of medical aesthetics and organ transplantation.

It is reported that CollPlant had previously completed eight rounds of financing, raising a total of $35.2 million. In addition, Jonathan MN Rigby, an executive at a leading U.S. pharmaceutical company, assumed the role of Chairman of the Board in early 2019.

CollPlant, founded in 1981 and headquartered in Israel, is a leading biotechnology company. The company focuses on the fields of regenerative medicine and medical aesthetics, primarily developing 3D bioprinting technology for tissues and organs. CollPlant has also developed a series of products based on genetic engineering technology, including recombinant human collagen (rh-Collagen). The company was listed on the Tel Aviv Stock Exchange in 2002 under the stock code CLGN.

The United States performs 31,000 organ transplant surgeries annually, yet up to 900,000 deaths occur due to organ failure. Organ transplantation often involves prolonged waiting periods, and the high medical costs impose a significant financial burden on patients.

CollPlant’s recombinant Type I collagen exhibits efficacy comparable to that of human-derived Type I collagen. Furthermore, the product demonstrates superior biofunctionality in tissue regeneration, along with high safety, high purity, and excellent homogeneity.

CollPlant has chemically modified its recombinant type I collagen to accommodate the 3D bioprinting process. The product maintains excellent flowability during printing and can be cured into a hydrogel under ultraviolet and visible light irradiation, thereby better matching the native properties of patients’ organ tissues.

Data shows that CollPlant’s revenue in the first quarter of 2018 was $225,000. By March 31, 2019, the company’s first-quarter revenue reached $594,000, representing a 164% increase. CollPlant’s growth capital is primarily derived from the development and sales of its 3D bioprinting technology for organs and tissues, recombinant Type I collagen for medical aesthetics, soft tissue repair matrices, as well as VergenixSTR and VergenixFG for wound care.

Mr. Ami Sagi is a major investor in CollPlant and the company’s largest shareholder. In November 2017, he invested $7.4 million in CollPlant to support its development. Currently, Mr. Sagi has agreed to provide an additional $1 million in funding after CollPlant signs a product licensing agreement with its strategic partner.

Yehiel Tal, CEO of CollPlant, stated, “We are currently developing dermal fillers and regenerative breast tissue implants. CollPlant will continue to forge business partnerships with major international healthcare companies and drive advancements in the field of regenerative medicine. We are delighted to have secured this financing round with Mr. Ami Sagi and other investors.”

(Compiled by Xu Xiaoxue)