Collplant (TA:CLPT) has announced the signing of a definitive agreement with a US investor for a $5m private placing. The investment is in three tranches: signing the agreement; approval; and successful up-listing to the NASDAQ exchange. This is a significant step for CollPlant, in our opinion, as it enables the company to develop strategically by increasing its distribution of Vergenix products and progress its earlier-stage rhCollagen technology bioInk for 3D printing of organs and tissues. We have increased our rNPV to $73m (NIS262m) as a result of rolling our model forward a quarter and using the Q2 cash and first tranche of the fund-raising.
Significant fund-raising and potential up-listing
CollPlant has announced a $5m fund-raising agreement with a US investor. The investment will be split – $2m on signature of the agreement; $2m once the agreement is approved by its shareholders; and $1m on the successful up-listing to the NASDAQ exchange. The company has also indicated that current key shareholders are interested in investing further funds in a separate, future private placement. This fund-raising is significant as it is sufficient to provide financial stability to the company and also enables it to progress the commercialisation of its VergenixSTR and VergenixFG in Europe alongside its earlier pipeline, its biological ink (bioInk) for the production of 3D scaffolds.
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