Collagen Solutions on track to meet full-year expectations

Biomaterials and regenerative medicines manufacturer Collagen Solutions said it remained positive about its outlook on Wednesday, telling shareholders it was “on track” with its key initiatives for the year, following its successful fundraise in June and momentum from the last financial year.

The AIM-traded firm, which was holding its annual general meeting in Glasgow, said its core business was seeing continued growth, as expected, to support its goal of further improvement on overall financial performance, in line with market expectations.

Chief executive officer James Rushdy said it was also progressing with infrastructure projects to increase its capacity for contract manufacturing, while it also expanded its tissue supply.

“We are engaged in active dialogue with our notified body regarding our application for CE-marking ‘ChondroMimetic’, consistent with our plan to resolve open questions in time to gain approval in the financial year, while the response time or additional questions by the notified body still cannot be guaranteed,” Rushdy explained.

“Finally, our global research and development team is executing on several key customer product development projects supporting a strong pipeline of contract manufacturing over the next several years.”