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Israeli Biotechnology Company CollPlant, Producing Human Collagen For Tissue Repair, Raises $6 Million

The company also raised NIS 63 million in future options and hopes to bring two products to the European market by 2015.
Prof. Oded Shoseyov

 Prof. Oded Shoseyov

CollPlant Holdings Ltd. (TASE: CLPT) completed raising NIS 3.7 million (about $1 million) yesterday at a price of 23% above the minimum set due to surplus demand from institutions and the public at NIS 0.37 (about 0.10 Cent) per share with an issue that was 4.5 times oversubscribed.

Collplant is an Israeli biotechnology company producing human collagen, a protein vital for tissue repair, from genetically modified tobacco plants grown in greenhouses.

The technology behind CollPlant’s collagen was invented by the company’s co-founder Professor Oded Shoseyov, who transfered all five genes responsible for the production of the protein into a transgenic plant. Tobacco was perfect for this job because its genome is well known, it starts a new growing cycle every six weeks and it is not part of the food chain, so the genes cannot escape into the environment.

CollPlant is marketing its collagen as raw material to laboratories. The company is also developing products on its own, including a gel to accelerate healing diabetic ulcers, which the U.S. Food engaged in the development and production of medical devices for regenerative medicine for tissue repair based on human collagen.

Overall the company raised about $6 million this month in shares and also raised a further $18 million for the future in options.

 

 

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