CLGN News & Events

The company said, "This morning, we announced the termination of our development agreement with AbbVie. While this represents the close of an important chapter, we see it as the beginning of an even more promising journey. I'd like to share our vision for what lies ahead for CollPlant in 2026. As noted, Allergan Industrie SAS, an AbbVie company, notified us that it was exercising its right to terminate the development agreement, previously entered into in February 2021, upon 60 days' advance notice. During the prior five years, AbbVie was developing a dermal and soft tissue filler product for commercialization in the medical aesthetics market, using the Company's rhCollagen technology. We view this development as an opportunity, and we are moving forward with confidence. Interest in CollPlant's collagen technology remains strong and we are actively pursuing entering into agreements with new partners, across all types of aesthetic products, including for dermal and soft tissue filler products. The market opportunity before us is significant, and we intend to capture it. Over the past few months, we have engaged with several leading strategic partners and Tier 1 corporations to explore potential joint development opportunities, primarily in the aesthetics sector. These collaborations focus on dermal filler products incorporating CollPlant's technology, hyaluronic acid, and other key components. While these discussions naturally take time, we are actively working to accelerate the process and, while there is no guarantee, are optimistic about reaching a definitive agreement in the coming months."

The company said, "To ensure we are well positioned for the road ahead, we have updated our expense forecast and are implementing a cost-reduction and workforce optimization plan. As part of this initiative, we are in the process of reducing our workforce by approximately 50%. We are confident these measures will sharpen our focus and believe this will extend our cash runway into Q4 2026, positioning us to achieve our next key milestones from a position of strength. As we move forward, we are building on a strong foundation, with three core programs - regenerative dermal and soft tissue fillers, regenerative breast implants, and rhCollagen bioinks for 3D bioprinting of tissues and organs - that we believe have the potential to drive meaningful growth and value creation in the years ahead."

CollPlant files to sell 3.3M ordinary shares for holders

CollPlant Biotechnologies announced that on March 23 the Company received a written notice from the Nasdaq Stock Market indicating that the Company was not in compliance with Nasdaq Listing Rule 5550 as the Company's closing bid price for its ordinary shares, or Ordinary Shares, was below $1.00 per share for the last 30 consecutive business days. Pursuant to Nasdaq Listing Rule 5810, the Company has been granted a 180-calendar day compliance period, or until September 21 to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Ordinary Shares must meet or exceed $1.00 per share for at least 10 consecutive business days during the 180-calendar day compliance period.