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Vote of Confidence in CollPlant: Completion of Agreement for Immediate Investment of USD 1.1 Million from Ami Sagi, one of the Company's Largest Shareholders

CollPlant
Posted on: 13 Nov 17
Vote of Confidence in CollPlant: Completion of Agreement for Immediate Investment of USD 1.1 Million from Ami Sagi, one of the Company's Largest Shareholders In addition, Sagi has been granted warrants, which when fully exercised will bring in an additional USD 2.1 million Over the last two months the Company has raised USD 7.4 million from an American investor and from the large shareholders to carry out its commercial plans The Company is not undertaking further contacts for additional investments

PR Newswire

NESS ZIONA, Israel, Nov. 13, 2017

NESS ZIONA, Israel, Nov. 13, 2017 /PRNewswire/ -- CollPlant (TASE: CLPT, OTC:CQPTY)- a regenerative medicine company utilizing its proprietary plant-based rhCollagen technology for tissue repair products (recombinant human, "rhCollagen"), announces that it has signed a private restricted investment agreement with Mr. Ami Sagi, one of the Company's largest shareholders. As part of the investment agreement, including shares and warrants, the Company will raise immediately USD1.1 million, and upon full exercise of the warrants, a further USD 2.1 million.

Over the last two months CollPlant has announced raising various amounts, which together come to USD 7.4 million, from an American investor, Meitav-Dash institutional fund, and Mr. Ami Sagi. The Company is not undertaking further contacts for additional investments.

About CollPlant

CollPlant is a regenerative medicine company leveraging its proprietary, plant-based recombinant human collagen (rhCollagen) technology for the development and commercialization of tissue repair products, initially for the orthobiologics, 3D Bio-printing of tissue and organs, and advanced wound care markets. The Company's cutting-edge technology is designed to generate and process proprietary rhCollagen, among other patent-protected recombinant proteins. Given that CollPlant's rhCollagen is identical to the type I collagen produced by the human body, it offers significant advantages compared to currently marketed tissue-derived collagen, including improved biofunctionality, superior homogeneity and reduced risk of immune response. The Company's broad development pipeline includes biomaterials indicated for orthopedics and advanced wound healing. Lead products include: Vergenix®STR (Soft Tissue Repair Matrix), for the treatment of tendinopathy; and Vergenix®FG (Flowable Gel) wound filler, for treatment of acute and chronic wounds. CollPlant's business strategy includes proprietary development and manufacture of tissue repair products and their commercialization and distribution, together with leading third parties, alongside alliances with leading companies for joint development, manufacture and marketing of additional products.

For more information about CollPlant, visit http://www.collplant.com

 

Contact at CollPlant:

Contact at Rx Communications Group, LLC:

Eran Rotem

Paula Schwartz (for US Investors)

Chief Financial Officer

Managing Director

Tel: + 972-73-2325600/612

Tel: 917-322-2216

Email: Eran@collplant.com

Email: pschwartz@rxir.com

 

View original content:http://www.prnewswire.com/news-releases/vote-of-confidence-in-collplant-completion-of-agreement-for-immediate-investment-of-usd-11-million-from-ami-sagi-one-of-the-companys-largest-shareholders-300554320.html

SOURCE CollPlant

PR Newswire
www.prnewswire.com

Last updated on: 13/11/2017

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