CollPlant completes $5.5 million financing to expand tissue organ 3D bioprinting business

CollPlant plans to use this round of funding to develop 3D bioprinting technology for use in medical beauty and organ transplantationit was reported that CollPlant had completed eight financings, with a total investment of $35.2 millionIn addition, Jonathan MN Rigby, an executive at leading U.Spharmaceutical companies, became chairman of the company's board of directors in early 2019founded in 1981 and headquartered in Israel,CollPlant focuses on the field of regenerative medicine and medical beauty, developing 3D bioprinting technologies for tissue organsCollPlant has also developed a range of products, such as recombinant human collagen (rh-Collagen), based on genetic engineeringThe company was listed on the Tel Aviv Stock Exchange in 200231,000 organ transplants are performed in the United States each year, but the number of deaths due to organ damage is as high as 900,000Organ transplants often require long waits, and such procedures are expensive and costlyCollPlant produces recombinant type I collagen similar to the effect of type I collagen produced in humansAnd the product has better tissue regenerative biological function, high safety, high purity and superior homogeneityCollPlant chemically modified its recombinant type I collagen to accommodate the 3D bioprinting processThe product maintains good fluidity during printing and cures to form hydrogels under ultraviolet and visible light to better match the natural properties of the patient's organ tissuedata show edias of $225,000 for the first quarter of 2018Revenue for the company's first quarter ended March 31, 2019 was $594,000, up 164 percentCollPlant's growth funds are funded primarily by the development and sale of tissue organ 3D bioprinting technology, recombinant type I collagen for medical beauty, soft tissue repair matrix, and VergenixSTR and VergenixFG for wound therapy Note: The original text has a limitation