COLLPLANT BIOTECHNOLOGIES REPORTS 2025 SECOND QUARTER FINANCIAL RESULTS AND PROVIDES CORPORATE UPDATE

Sales of rhCollagen and bioinks primed for augmentation following new U.S.-based commercial executive hire. Raised $3.6 million in registered direct offering in second quarter.

Rehovot, Israel — Aug. 20, 2025 — CollPlant Biotechnologies (Nasdaq: CLGN), a regenerative and aesthetics medicine company developing technologies and products based on its non-animal-derived recombinant human collagen (rhCollagen) for tissue regeneration and medical aesthetics, today reported financial results for the second quarter of 2025 and provided a corporate update.

CEO Comment

Yehiel Tal, CollPlant’s Chief Executive Officer, commented: “In recent months, CollPlant has been making strong progress with its photocurable dermal and soft tissue filler program, completing additional testing and preparing for the clinical phase. The product’s superior skin-lifting, tissue-rejuvenation, and contouring capabilities have generated strong interest from leading medical aesthetics companies. We also continued to advance our regenerative breast implant program and expand distribution for our rhCollagen and bioink products in key markets. These efforts will now be led by our newly appointed, U.S.-based Head of Commercial Operations for North America.

To support these initiatives, we raised a modest amount of capital this quarter, providing financial flexibility while pursuing a long-term, non-dilutive transaction to drive shareholder value.”

Second Quarter and Recent Highlights

Photocurable Dermal Filler Program Advancing Toward Clinical Stage

CollPlant continued to advance its photocurable dermal filler program in preclinical testing. Designed for superior skin lifting, skin rejuvenation and precise facial contouring, the program is in the final stages of preclinical testing with production scale-up underway in preparation for clinical studies.

AbbVie Collaboration

In February 2025 CollPlant received a $2.0 million milestone payment from AbbVie upon achievement of a key development milestone under their development and commercialization agreement. Under the agreement AbbVie holds an exclusive worldwide license to combine CollPlant’s rhCollagen technology with AbbVie’s technologies for the development and commercialization of dermal and soft tissue filler products. The lead dermal filler candidate is now in the clinical phase.

Regenerative Breast Implants

CollPlant is advancing regenerative breast implants made from its plant-derived rhCollagen and other biocompatible materials, produced using rhCollagen-based bioinks. These implants are designed to regenerate breast tissue, avoid immune rejection, and offer a potentially safer, more durable alternative for aesthetic augmentation and post-mastectomy reconstruction.

Preclinical progress highlights:

• 3D-bioprinted 200cc commercial-size implants with enhanced durability
• Demonstrated vascularization, rapid tissue ingrowth and early biodegradation while maintaining structure
• No adverse tissue reactions observed
• Refined surgical protocol for small-incision implantation to reduce complication risk
• MRI and ultrasound in early 2025 confirmed tissue integration and vascularization

Next steps: Continue implant optimization for long-term tissue remodeling and durability to support future clinical development.

Non-Core Commercial Programs

CollPlant is expanding international distribution for Vergenix™ STR, a tendon-repair product combining rhCollagen with platelet-rich plasma (PRP). Vergenix STR completed clinical trials, holds CE Mark approval, and is marketed primarily in Europe. In February 2025 CollPlant entered new markets for Vergenix STR in the Netherlands, Belgium, Luxembourg (Benelux), Spain, India and Turkey, and plans further expansion across Europe and Asia in 2025–2026.

Corporate Updates

• April 2025: CollPlant commented on FDA steps to advance non-animal testing alternatives; CollPlant’s Collink.3D portfolio of rhCollagen-based BioInk products can be used to biofabricate tissue or organ-on-a-chip systems as alternatives to animal testing.
• May–June 2025: Registered direct offering and concurrent private placement of warrants raised gross proceeds of $3.6 million (closed in June).
• June 2025: Expanded agreement with STEMCELL Technologies to broaden use of CollPlant’s rhCollagen beyond research into clinical development and commercial-scale manufacturing.
• July 2025: Bowman Bagley appointed Vice President, Commercial North America to lead commercial strategy and execution in North America.

Financial Results — Three and Six Months Ended June 30, 2025 (Highlights)

Second quarter 2025 (GAAP):

• Revenues: $179,000 (Q2 2024: $249,000)
• Cost of revenues: $186,000 (Q2 2024: $536,000)
• Gross loss (Q2): $7,000 (Q2 2024 gross loss: $287,000)
• Operating expenses: $3.2 million (Q2 2024: $4.1 million)
• Net loss: $3.3 million, or $0.28 basic loss per share (Q2 2024 net loss: $4.2 million, or $0.37)

Six months ended June 30, 2025 (GAAP):

• Revenues: $2.2 million (six months 2024: $347,000) — increase mainly due to the $2.0 million AbbVie milestone payment
• Gross profit (six months): $1.9 million (six months 2024 gross loss: $734,000)
• Operating expenses (six months): $6.7 million (2024: $8.0 million)
• Net loss (six months): $4.8 million, or $0.41 basic loss per share (2024: $8.4 million, or $0.73)
• Cash and cash equivalents at June 30, 2025: $11.4 million
• Net cash used in operating activities (six months): $3.6 million (2024: $7.2 million)
• Net cash provided by financing activities (six months): $3.1 million (primarily from the registered direct offering)

Non-GAAP

CollPlant reported certain non-GAAP measures excluding non-cash share-based compensation and changes in operating lease accounts. Management uses GAAP and non-GAAP measures when evaluating performance; see the full reconciliations available in the company’s financial tables and filings.

About CollPlant

CollPlant is a regenerative and aesthetic medicine company focused on 3D bioprinting of tissues and organs and medical aesthetics. The Company’s products are based on rhCollagen produced with its proprietary plant-based genetic engineering technology. In 2021 CollPlant entered into a development and global commercialization agreement for dermal and soft tissue fillers with Allergan, an AbbVie company.

For more information visit http://www.collplant.com.

Forward-Looking Statements

This release contains forward-looking statements about CollPlant’s plans and expectations, including statements about product development, clinical timing, regulatory processes, commercialization, capital needs and other matters. Actual results may differ materially due to risks and uncertainties described in CollPlant’s SEC filings, including its Form 20-F. CollPlant disclaims any obligation to update forward-looking statements.

Contacts

CollPlant
Eran Rotem
Deputy CEO & CFO
Tel: +972-73-2325600
Email: [email protected]

Investors
LifeSci Advisors
Dan Ferry
Email: [email protected]

Media
Photo: https://mma.prnewswire.com/media/2753944/CollPlant.jpg
Logo: https://mma.prnewswire.com/media/2217353/CollPlant_Logo.jpg

Source: CollPlant