TMCnet News
Collbio Limited undertakes US acquisition and reverse listing creating Collagen Solutions plc.GLASGOW, Scotland --(Business Wire)-- Collbio Ltd has moved rapidly since its formation in March 2013 to secure a position as a leading global supplier and manufacturer of bovine collagen-based biomaterials. Effective January 2nd, the company announced both the acquisition of California-based Collagen Solutions LLC and a reverse listing on to the London AIM market (COS.LSE). The company has been renamed Collagen Solutions plc and will be headed by Collbio CEO Dr Stewart White. Dr White explained that the two linked moves are key to Collagen Solution's future planned growth: "Firstly, the USA is a major market for us - this is exemplified by our contract with US-based Cardium Therapeutics for the manufacture of formulated collagen for Cardium's FDA-approved Excellagen® product. The acquisition of Collagen Solutions LLC will enable us to offer US customers a greatly enhanced service. Their San Jose, CA (News - Alert) site will continue to trade and movng forward will be our US presence, Collagen Solutions (US) Inc. (www.collagensolutions.com). Secondly, collagen has an established, and growing, number of uses in the healthcare sector, ranging from wound dressings, prosthetic implant coatings through to cell scaffolding in regenerative medicine. With facilities in Europe and the USA, we will now have the ability to meet customers requirements for collagen products in addition to ongoing security of supply." San Jose-based Chief Commercial Officer, Diane Mitchell added that another key company strength is its ability to provide expert technical support for customers, enabling them to translate research ideas into commercial medical products: "From customer feedback it is clear that university researchers, drug developers, and device manufacturers need an industry partner experienced with collagen's characteristics and uses. Collagen Solutions plc answers that need through a highly skilled team offering both standard and customised collagen raw material supply, in addition to expert development services and contract manufacturing." For more information visit www.collagensolutions.co.uk -ends-
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