Three-dimensional (3D) printing solutions company 3D Systems Corp. (DDD:NYSE) and CollPlant Biotechnologies Ltd. (CLGN:NASDAQ), today announced that they "have signed a co-development agreement for a 3D bioprinted regenerative soft tissue matrix for use in breast reconstruction procedures in combination with an implant."
The firms explained that "the soft tissue matrix is intended to support the lower portion of the breast while expanding the implant pocket and providing increased coverage of the implant and that by using 3D bioprinting, these matrices can be designed to match the patient's anatomy to support the breast implant. "
3D Systems advised that based upon data from the World Health Organization, approximately 2.3 million women worldwide in 2020 were diagnosed with breast cancer with a large percentage of them requiring partial or full breast tissue removal. The company noted that although due to highly effective treatments survival probabilities are now greater than 90%, that in turn is creating a need for offering improved options for reconstruction.
The firm noted that at present, most breast reconstruction procedures use soft tissue matrices derived from human cadavers or animals. The company added that with the uptick in demand, supply shortages and batch-to-batch variability is an ongoing concern as well as the potential for elicited immune responses that affect healing.
3D Systems and CollPlant stated that the joint development efforts will focus on developing 3D bioprinted soft tissue matrices using rhCollagen, which promote tissue regeneration, by bringing together the two companies' combined expertise in 3D printing, healthcare, bioprinting and bioinks.
3D Systems' President and CEO Dr. Jeffrey Graves commented, "In January of this year, we announced our intention to increase the investment in regenerative medicine and focus on developing and commercializing solutions to change how healthcare is delivered and bring substantial benefits to patients…Through this project we're embarking on with CollPlant, we're exploring a novel application that could offer a new reconstruction treatment for breast cancer survivors. It's inspiring to be involved in a project that has the potential to have such a positive impact on the human condition."
CollPlant Biotechnologies' CEO Yehiel Tal remarked, "We've joined forces with 3D Systems to offer a regenerative soft tissue matrix that may significantly increase the addressable market for soft tissue reinforcement in breast implant procedures. A regenerative solution can increase safety, eliminate product variability, and enhance results by promoting new tissue growth…We are pleased to deepen our collaboration with 3D Systems as part of CollPlant's strategy as a leader in regenerative medicine."
Headquartered in Rock Hill, S.C., 3D Systems is a provider of three-dimensional (3D) printers, print materials, software, manufacturing services and digital design tools. The company claimed that it was the first company to bring 3D printing to the manufacturing industry over three decades ago. The firm's application-specific solutions are developed and customized by its team of application engineers in collaboration with its clients to meet their specific product and manufacturing needs and requirements. The company's 3D system solutions and applications are widely utilized in in the automotive, aerospace & defense, medical and dental care and consumer and durable goods industries.
CollPlant Biotechnologies is based in Rehovot, Israel, and is described as "a regenerative and aesthetic medicine company focused on 3D bioprinting of tissues and organs, and medical aesthetics." The firm's rhCollagen (recombinant human collagen) products offerings are designed, developed and manufactured using its proprietary plant based genetic engineering expertise and technology. The company's products are engineered for use in aesthetics, organ manufacturing and tissue repair.
3D Systems Corp. started off the day with a market cap of around $3.6 billion with approximately 125.0 million shares outstanding and a short interest of about 16.1%. DDD shares opened 2.5% higher today at $29.60 (+$0.72, +2.49%) over yesterday's $28.88 closing price. The stock has traded today between $29.60 and $38.55 per share and is currently trading at $36.91 (+$8.03, +27.80%).
[NLINSERT]Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.
