Success of implant study ‘significant’ for life sciences group

Shares in an Aim-quoted Glasgow biomaterials firm soared on news of positive results from a study of patients who received an implant to repair knee cartilage.

The news was described as a “significant event” for Collagen Solutions, which develops and manufactures medi- cal-grade collagen and tissue components for use in regenerative medicine. It said the success of the eight-year clinical study of 15 patients who received Chondromimetic implants has allowed the firm to submit an initial submission for CE Mark. Collagen Solutions said the current indication target for Chondromimetic is positioned to address at least 30 per cent to 40 per cent of surgeries to treat cartilage defects of the knee – totalling more than a million annually in the US and Europe – once adopted worldwide.

Chief executive Jamal Rushdy said: “We look forward to announcing further key milestones including the granting of the CE Mark over the next few months. We are excited by Chondromimetic’s progress and believe that Collagen Solu- tions is now in a period of solid progression which will provide future sustainable revenue-generation.”

Cenkos analyst Chris Donnellan said the successful study is “clearly a significant event for Collagen Solutions”. He added that its three revenue lines should drive an acceleration of revenue growth through to estimated 2020 full-year results. 0 CEO Jamal Rushdy forecast further milestones for the firm