Bullish indicating open at $55-$60, IPO prices at $37
REHOVOT, Israel - CollPlant Biotechnologies (NASDAQ:CLGN), currently valued at $18.3 million in market capitalization, announced today the appointment of Bowman Bagley as Vice President, Commercial North America, a newly created position to support the company’s growth strategy in the region. According to InvestingPro data, analysts expect the company’s sales to grow by 23% this year.
Bagley will lead CollPlant’s commercial strategy and execution in North America, including sales and marketing, logistics, and market expansion for the company’s recombinant human collagen (rhCollagen) products.
"His deep expertise in collagen-based biomaterials, 3D bioprinting, and tissue engineering aligns perfectly with our growth strategy," said Yehiel Tal, Chief Executive Officer of CollPlant, in a press release statement.
Prior to joining CollPlant, Bagley served as Vice President and Fractional CxO at Wasatch Biolabs, a genomics research company. He previously spent nearly a decade at Advanced BioMatrix, a supplier of collagen and extracellular matrix products, where he rose to the position of Chief Executive Officer.
CollPlant develops technologies and products based on its non-animal-derived recombinant human collagen for regenerative and aesthetic medicine applications. The company entered into a development and global commercialization agreement for dermal and soft tissue fillers with Allergan, an AbbVie company, in 2021.
Bagley holds a B.S. in Neuroscience from Brigham Young University and an MBA from the University of Utah.
In other recent news, CollPlant Biotechnologies has been granted a European patent for its recombinant human collagen (rhCollagen)-based products, including injectable soft tissue fillers and regenerative breast implants. This patent, which will last until 2041, is set to bolster the company’s position in the aesthetic and reconstructive markets. Additionally, CollPlant announced a $3.6 million stock offering, involving the sale of 1,200,002 ordinary shares and the issuance of warrants, expected to close in June 2025. The proceeds from this offering are intended for general corporate purposes, including advancing its partnership with AbbVie on a dermal filler product. H.C. Wainwright & Co. is acting as the exclusive placement agent for this transaction. CollPlant’s CEO, Yehiel Tal, highlighted the importance of this new capital in enhancing the company’s operational flexibility. The company continues to focus on innovations such as a photocurable regenerative dermal filler and next-generation breast implants. These developments aim to address significant needs in the market for safer, regenerative solutions in aesthetic procedures.
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