CollPlant grants AbbVie exclusive rhCollagen technology license

Under CollPlant’s (CLGN) existing development and commercialization agreement, CollPlant has granted AbbVie (ABBV) a worldwide exclusive license to use CollPlant’s rhCollagen technology in combination with AbbVie’s proprietary technologies for the production and commercialization of dermal and soft tissue fillers. AbbVie is collecting data and conducting a review of interim results from the first cohort of patients enrolled in the dermal and soft tissue filler clinical trials initiated in 2023 and next steps for the program are to be determined upon complete assessment. Separately, CollPlant announced the receipt of a contingent payment with respect to CollPlant’s rhCollagen, which, according to the development and commercialization agreement, triggers a $2M payment from AbbVie to CollPlant.