Under terms of the agreement, beginning December 1, 2016, Arthrex will serve as the exclusive distributor of CE Marked Vergenix™STR in Europe, the Middle-East, India and certain African countries. The agreement includes common commercial terms and the first order is expected to be supplied next month.
Yehiel Tal, Chief Executive Officer of CollPlant, stated, "We are honored to have solidified this relationship with Arthrex, a worldwide leader in the orthopedic space.
“With a well established reputation and global footprint, Arthrex is the perfect partner for Vergenix™STR, which has shown to provide superior tendinopathy healing characteristics versus published results from steroid treatments, currently regarded as the standard of care."
"We are extremely pleased to partner with CollPlant for the distribution of the company's novel, Vergenix™STR treatment for tendinopathy," noted Stefan Krupp, Managing Director of Arthrex GmbH.
"We consider CollPlant's rhCollagen-based technology to be revolutionary, and believe that, over time, our collaboration with CollPlant will expand to additional therapeutic areas."
Arthrex is a leading medical orthopedic products company. The company operates throughout the world and has developed over 10,000 products and medical procedures. Arthrex's corporate headquarters is located in Southwest Florida.
Vergenix™STR is primarily made of crosslinked recombinant human collagen (rhCollagen) and is intended to be combined with platelet-rich plasma (PRP), a concentrated blood plasma derived from the patient's own blood that contains high levels of platelets, which are critical to the healing process.
Platelets contain growth factors which are responsible for stimulating tissue generation and repair, including soft tissue repair, bone regeneration, development of new blood vessels, and stimulation of the healing process.
