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Collagen Solutions PLC
22:00 11 Jul 2017
Collagen Solutions's annual revenue boosted by
growth in Asia and Europe
Price:
5.50p
Market Cap:
£17.84M
1 Year Share Price Graph
Growth in both Asia and Europe helped Collagen Solutions PLC (LON:COS)
raise revenues by a quarter to £4.1mln in its latest trading year.
This growth was organic and driven largely by gains in Europe and Asia,
though North America still provided the bulk of sales at £1.92mln, up 6%.
Asia saw revenue at £1.6mln, up 36%, driven by new business wins and a new
commercial manager in Seoul. Europe and elsewhere saw sales rise 190% to
£430,000.
WATCH: Collagen Solutions' Jamal Rushdie hails 'significant' growth in AsiaPacific & Europe
In addition, the supply of pericardium tissue, used for heart valves, grew by
30% with the group strengthening its patent protection in Australia and New
Zealand to meet the additional demand.
Losses for the year rose to £1.6mln (£866,000), with cash at the year-end
amounting to about £9mln following a funding in February.
Share Information
Code:
Listing:
52 week
Sector:
COS
AIM
Low
4.5p
High
10.13p
Pharma & Biotech
Website: www.collagensolutions.co.uk
Knee cartilage implant ChondroMimetic will be a key focus this year and
Collagen recently started a follow-up study to assess its long-term
performance,
Company Synopsis:
If the study is successful, finding a partner for the product will be the aim, said
Jamal Rushdy, chief executive.
This will likely be in Europe first as it would need to go through the regulatory
process in the US.
Collagen Solutions develops, manufactures
and supplies medical grade collagen
biomaterials for use in research, medical
devices, and regenerative medicine. We
work with scientific teams to provide
materials that optimize your application.
 
 .
In Korea, Collagen added it is addressing an issue with one customer that
otherwise might affect revenues in 2018/19.
Author:
Proactive Investors Australia
+61 (0)2 9280 0700
Rushdy added he was pleased with the progress both in the core medical
collagen business and the products pipeline.
[email protected]
Collagen added that co-founder Stewart White, the company's chief scientific
officer and co-founder has stepped down from the board but he will remain on
the scientific advisory board.
In afternoon trading, shares in Collagen rose 2.44% to 5.25p.
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Suite 102, 55 Mountain Street
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ABN: 19 132 787 654