Regenerative medicine company CollPlant today released information on its planned initial public offering, looking to bring in $25 million.
CollPlant produces wound care and regenerative devices based on plant-derived collagen. Their products include the Vergenix FG flowable gel intended to treat chronic and acute wounds.
The wound-filling gel utilizes Israel-based CollPlant’s proprietary tobacco plant-based technology, which the company claims allows for large scale production of recombinant human collagen.
The company is currently listed on the Tel Aviv Stock Exchange under the “CLPT” symbol, and is applying to list on the Nasdaq Capital Market under the ticker “CLGN,” according to an SEC filing.
CollPlant hopes to bring in $25 million in the offering, with $2.9 million slated to pay for the registration fee.
The company’s Vergenix FG flowable gel won CE Mark approval in the European Union in February.
CollPlant said that Vergenix FG requires only a single treatment, as opposed to multiple, repetitive treatments, making the product more convenient and cost-effective.