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April, 2008

CollPlant Successfully Raised $ 8.35 Million

"CollPlant today announced that it successfully raised $ 8.35 Million at a company valuation of $ 38.35 Million post-money. The lead investors were Pontifax, an investment company led by Eli Hurvitz of Teva, and an unnamed "Israeli leading financial institution". Also participating in the current round were Docor, a Van Leer fund, Mori Arkin, Vice-Chairman of the drug company Perrigo, and new backers including a "leading European fund" and other private investors.

CollPlant Ltd. is a biotechnology company specializing in the development and commercialization of plant-derived recombinant human collagen formulated for a variety of medical devices.

According to Mr. Efi Cohen Arazi, the Executive Chairman of the company, the funds will enable the company to continue the development and expansion of its production capacity for collagen as a bulk pharmaceutical ingredient and to develop new collagen based products, through phase III and even up to commercialization.

CollPlant is focused on the development of proteins in plant cells. The company's first targeted protein, collagen, is the most common protein in the human body which until now has been produced from human or animal tissues. The company intends to supply its collagen harvested from plant cells as raw material, for various uses, to the largest manufacturers in this field, some of which are currently testing the company's products."

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