Collagen Solutions PLC (LON:COS) has inked a new three-year agreement with NovaBone Products, which produces US FDA-cleared synthetic bone grafts.
NovaBone is a long-standing customer, since 2015, with the AIM-quoted firm supplying specialised collagen biomaterials specific to their line of bone graft products that are used in orthopaedic and dental applications.
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The contract begins with a minimum 3-year period and It formalises a longer-term supply arrangement to ensure NovaBone has consistent and increased access to this specialised material to support their continued growth.
"NovaBone is well positioned within the fast-growing orthobiologics market segment,” said Art Wotiz, NovaBone president in a statement.
“Our line of bone graft biomaterials harnesses the body's natural healing process to accelerate bone healing, serving an important clinical need that is fuelling our growth. We are pleased to have Collagen Solutions as a long-term partner to support us along the journey."
Collagen chief executive Jamal Rushdy,added: “We are excited by NovaBone's growth prospects and new backing by Halma to accelerate their growth plans.
“Both companies have worked collaboratively over the past several years to optimise a collagen formulation that meets the specific demands of NovaBone's unique technology. We look forward to continuing to support our long-standing partner through their next phase of growth."
London-listed medtec firm Halma Plc (LON:HLMA) recently acquired NovaBone to bolster its presence in the orthopaedics market.