WALTHAM, Mass., Sept. 16, 2015 (GLOBE NEWSWIRE) -- Histogenics Corporation (Nasdaq:HSGX), a regenerative medicine company focused on developing and commercializing products in the musculoskeletal space and Collagen Solutions plc (AIM:COS), the developer and manufacturer of medical grade collagen components for use in regenerative medicine, medical devices and in-vitro diagnostics, today announced the execution of a supply agreement between Histogenics and Collagen Solutions (UK) Ltd.
The supply agreement will encompass additional collagen material sources for use in Histogenics' investigational product candidate, NeoCart®, a regenerative medicine product currently in Phase 3 clinical trials using autologous cell therapy, biomaterials and engineering to develop a tissue implant to repair knee cartilage damage. The supply agreement may also encompass additional future products in the Histogenics pipeline for use in markets outside of the United States.
Commenting on the agreement Dr Stewart White, CEO of Collagen Solutions, said: "Collagen Solutions has again demonstrated that it can provide materials which add real value to the delivery of novel regenerative therapies such as NeoCart®, which is a novel product that is synergistic with ChondroMimetic, the product which Collagen Solutions recently acquired. We are very pleased to be part of the Histogenics journey and look forward to participating in an exciting future with Adam and the team in Boston."
Adam Gridley, CEO of Histogenics, added: "We are pleased to enter into this partnership with Collagen Solutions in the United Kingdom as they have the historical know-how, leading technical capabilities and unique technology platforms that will provide additional supply capabilities in the United States and potentially serve our future product development requirements for new indications and for our markets outside of the U.S. We have been looking for a collaboration partner for some time to augment our internal primary collagen supply chain capabilities for NeoCart, which remain on track. Stewart and the team at Collagen Solutions fit our criteria perfectly, and we look forward to building upon our partnership to potentially provide patients with exciting new biologic therapeutics for the treatment of cartilage defects."
Histogenics is a regenerative medicine company focused on developing and commercialising products in the musculoskeletal segment of the marketplace. The regenerative medicine platform combines expertise in cell processing, scaffolding, tissue engineering, bio-adhesives and growth factors to provide solutions that can be utilised individually or in concert to treat musculoskeletal-related conditions. The first product candidate, NeoCart®, leverages the platform to provide an innovative treatment in the orthopedic space, specifically cartilage damage in the knee.
Various statements in this release are "forward-looking statements" under the securities laws. Words such as, but not limited to, "anticipate," "believe," "can," "could," "expect," "estimate," "design," "goal," "intend," "may," "might," "objective," "plan," "predict," "project," "target," "likely," "should," "will," and "would," or the negative of these terms and similar expressions or words, identify forward-looking statements. Forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions and uncertainties.
Important factors that could cause actual results to differ materially from those reflected in the Company's forward-looking statements include, among others: the timing and success of Histogenics' NeoCart Phase 3 clinical trial, including, without limitation, possible delays in enrolling the NeoCart Phase 3 clinical trial; the ability to obtain and maintain regulatory approval of NeoCart or any product candidates, and the labeling for any approved products; the scope, progress, expansion, and costs of developing and commercializing Histogenics' product candidates; the ability to obtain and maintain regulatory approval regarding the comparability of critical NeoCart raw materials following our technology transfer and manufacturing location transition; the size and growth of the potential markets for Histogenics' product candidates and the ability to serve those markets and other factors that are described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Histogenics' Annual Report on Form 10-K for the year ended December 31, 2014 and Quarterly Report on Form 10-Q for the six months ended June 30, 2015 which are on file with the SEC and available on the SEC's website at www.sec.gov. In addition to the risks described above and in Histogenics' annual report on Form 10-K and quarterly reports on Form 10-Q, current reports on Form 8-K and other filings with the SEC, other unknown or unpredictable factors also could affect Histogenics' results.
All written and verbal forward-looking statements attributable to Histogenics or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Histogenics cautions investors not to rely too heavily on the forward-looking statements Histogenics makes or that are made on its behalf. The information in this release is provided only as of the date of this release, and Histogenics undertakes no obligation, and specifically declines any obligation, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
|Contact & Enquiries:|
|Collagen Solutions plc|
|David Evans, Chairman||Tel: 07740 084 452|
|Stewart White, CEO||Tel: 0141 648 9100|
|Panmure Gordon & Co (Nominated Advisor and Broker)|
|Robert Naylor (Corporate Finance)||Tel: 0207 8862 714|
|Maisie Atkinson (Corporate Broking)||Tel: 0207 886 2905|
|Walbrook PR Ltd||Tel: 020 7933 8780 or firstname.lastname@example.org|
|Anna Dunphy||Mob: 07876 741 001|
|Mike Wort||Mob: 07900 608 002|
|Jon Lieber, Chief Financial Officer||Tel: +1 781 547 7909|
Source:Histogenics;Collagen Solutions plc