- Collagen Solutions has announced its first partnering deal for ChondroMimetic with a South Korean partner, Insung Medical.

Financial terms have not been disclosed.

Jamal Rushdy, CEO of Collagen Solutions, commented:

"We are delighted to announce our first partnering deal with Insung Medical, providing early validation of the global commercial opportunity of ChondroMimetic. Insung Medical's enthusiasm for the opportunity to commercialise ChondroMimetic in South Korea aligns with our strategy to launch the product to address the unmet need for a simple, cost-effective and long-term clinically effective treatment for cartilage defects."

Mr. In Keum Song, Chairman of Insung Medical added:

"I am very delighted to partner with Collagen Solutions for its ChondroMimetic product line. I look forward to a long term positive business relationship with Collagen Solutions as we expand into new technologies".

At 1:23pm: [LON:COS] Collagen Solutions Plc share price was +0.13p at 3p

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