22nd Aug 2018 10:08
LONDON (Alliance News) - Collagen Solutions PLC said Wednesday it is on track to meet its "key initiatives" for the year, including a financial performance "in line with market expectations".
Collagen shares were trading 8.3% higher at 4.06 pence each.
In his annual general meeting statement, Chief Executive Officer Jamal Rushdy added: "We are currently in negotiations with multiple distributors in Europe, which we expect to conclude in parallel with the ChondroMimetic CE Mark."
On Tuesday, the company announced signing distribution agreements with two new Chinese partners.
From an operational point of view, the company said that its New Zealand restructuring initiative is delivering the "expected synergies and benefits" as the collagen production and research & development has been moved to the UK and US.
"The New Zealand team is now fully focused on the tissue business and has already identified several new customer opportunities," Rushdy said.
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