Norgine Ventures completes £4 million financing with Collagen Solutions
London. 14th February 2017, 07.00 AM GMT. Norgine Ventures announced that it has provided financing of up to £4 million to Collagen Solutions plc. This investment recognises the high quality of the collagen products of Collagen Solutions, the opportunity to continue the growth trajectory through commercial expansion and the potential of their pipeline of proprietary finished devices.
Collagen Solutions develops, manufactures and supplies medical grade collagen and tissue biomaterials for use in medical devices, regenerative medicine and research. In addition to their core business of biomaterials supply, contract development and manufacturing, Collagen Solutions is developing a pipeline of proprietary regenerative medicine products, the most advanced of which is ChondroMimetic, a collagen-based implant for the treatment of small osteochondral defects.
The funding from Norgine Ventures will supplement equity funding raised by the company and enable Collagen Solutions to accelerate its commercial growth and finalise the development of ChondroMimetic through to market launch, alongside other finished medical device pipeline projects.
Peter Stein, Managing Director at Norgine Ventures, said: “We are pleased to invest in Collagen Solutions and thereby support a high quality business that supplies a first-rate collagen product to the medical device industry and develops exciting finished medical devices that will help satisfy unmet medical needs”. He added: “Collagen Solution’s manufacturing expertise and technology places the company at the forefront of the rapidly expanding regenerative medicine market making it an ideal investment for Norgine Ventures”.
Jamal Rushdy, Collagen Solutions CEO, said: “We appreciate Norgine Ventures’ investment commitment and support as we complete this strategically important funding round that strengthens our balance sheet, provides the resources to accelerate our core biomaterials and tissue business, and funds our new product launches. Norgine’s expertise and experience in medical devices and pharmaceuticals, and track record of supporting similar healthcare companies, gives us confidence that our partnership with Norgine Ventures will further create increased shareholder value.”
Notes to Editors:
For further information please contact
Norgine Ventures
Julien Michaux, Norgine Ventures, jmichaux@norgine.com
Aneta Sottil, Norgine Ventures, asottil@norgine.com
Collagen Solutions
Jamal Rushdy, Chief Executive Officer
Gill Black, Chief Financial Officer
Contact via Walbrook PR, T: +44 20 7933 8780 or collagen@walbrookpr.com
Mike Wort, M: +44 7900 608 002
Anna Dunphy, M: +44 7876 741 001
Media Contacts:
Isabelle Jouin, Norgine Corporate Communications, T: +441895453643
Charlotte Andrews, Norgine Corporate Communications, T: +441895453607
About Norgine
Norgine is a European specialist pharmaceutical company that has been established for over 100 years. In 2015, Norgine’s total revenue was EUR 320 million and the company employs over 1,000 people.
Norgine provides expertise and ‘know how’ in Europe to develop, manufacture and market products that offer real value to healthcare professionals, payers and patients. Norgine’s approach and infrastructure is integrated and focused upon ensuring that Norgine wins partnership opportunities for growth.
Norgine is headquartered in the Netherlands and its global operations are based in Amsterdam and in Harefield, UK. Norgine owns a R&D site in Hengoed, Wales and two manufacturing sites, one in Hengoed, Wales and one in Dreux, France.
For more information, please visit www.norgine.com
In 2012, Norgine established a complementary business Norgine Ventures, supporting innovative healthcare companies through the provision of debt-like financing in Europe and the US. For more information, please visit www.norgineventures.com.
NORGINE and the sail logo are trademarks of the Norgine group of companies.
About Collagen Solutions
Collagen Solutions Plc develops, manufactures and supplies medical grade collagen biomaterials for use in research, medical devices, and regenerative medicine. The company partners with customers to develop or co-develop formulations, components, and finished medical devices using collagen. Its expertise and collaborative approach lead to faster time to market, improved production, and superior products.
Collagen Solutions is an approved supplier for some of the largest medical device companies in the world. The company maintains strict quality and regulatory standards according to GMP, EDQM, ISO13485 and ISO 22442. Materials are sourced from BSE-free locations. The company provides a comprehensive range of collagen-based biomaterials and formulates collagen in solution, as powders, gels, films, coatings, sponges, membranes, biological scaffolds and in many other forms.
For additional information, please visit www.collagensolutions.com.
