StockMarketWire.com - Collagen Solutions posts a pre-tax loss of £983,313 for the six months to the end of September - up from £356,537 last time.

Revenue and other income increased by 30% to £1,891,001 (H1 2015: £1,460,218) while the adjusted LBITDA rose to £418,308 from £79,376.

Chief executive Jamal Rushdy said: : "I am pleased to report on the continued momentum in our core biomaterials contract development, supply, and manufacturing business. Recent investment in sales and marketing, and in particular talent, systems and processes, has resulted in improved operational efficiency.

"In addition, our integration of R&D efforts globally has resulted in a more focused pipeline of near-term finished device projects that will address major markets in orthopaedics and wound care, including our flagship ChondroMimetic programme.

"We are on track to initiate a six-year retrospective study for ChondroMimetic with new data to demonstrate long-term tissue regeneration with 3D MRI analysis as well as sustainability of the early positive functional results, and in parallel obtain the CE mark in 2017. Together, we believe that the progress made during the period set the strategic foundations on which we will base our objective to grow our revenue by 5x within 5 years."





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