Tissue Regeneration Company Collplant Wants to Delist From Tel Aviv Exchange
The Israel-based biotech company is trading on Nasdaq since January following a $5 million investment agreement
For daily updates, subscribe to our newsletter by clicking here.Collplant is a biotech company developing and manufacturing collagen-based regenerative medical treatments and biological ink for the 3D printing of tissues and organs. The company combined human genes and tobacco plant DNA to create plants from which human collagen can be harvested. Established in 2004, the company reported gross profit of NIS 1.62 million ($466,000) for the fiscal year 2017.
"Delisting from the TASE is the next step in Collplant's development as the company becomes more U.S. facing," said Collplant CEO Yehiel Tal in a statement.
Collpant registered on Nasdaq following a September investment agreement with Martin Schlaff's Lichtenstein-based hedge fund, Alpha Capital Anstalt. The private investment agreement netted Collplant $5 million. The company is offering American Depositary Shares (ADS) on Nasdaq under the ticker CLGN.