Crucial backing for client's product
Revenue boost for Glasgow bioscience firm Collagen
Glasgow drugs research and development company Collagen Solutions is expecting a boost to revenues after long-term client, NovaBone Products received backing for a bone graft device from the US regulator.
NovaBone has received Food and Drug Agency approval for the NovaBone MacroFORM system that helps in grafting material to surgical sites that aren’t readily accessible.
Stewart White, chief executive of Collagen Solutions, said: “Once again, we see the long-term value generation that we can gain by having our collagen embedded into novel products.
“This impressive innovation by the team at NovaBone around making their collagen products easier to use ensures a commitment to growth of these products within attractive addressable markets.
“It is anticipated this regulatory approval for NovaBone will have a direct effect on revenues to Collagen Solutions.”
Art Wotiz, president of NovaBone Products said: “We continue to reach milestones we have established. Our team has done an excellent job in terms of both design and manufacturing of collagen products and creating a robust pipeline of products that harness the natural healing process of the body.”
The breakthrough is the second positive announcement from Collagen in last few days. On Friday it announced that it had secured a contract to work on treatments for Parkinson’s Disease.