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Financings in Brief: Collagen

This article was originally published in The Gray Sheet

Executive Summary

Collagen: Remaining shares of tissue adhesive and anti-adhesion product firm Cohesion Corp. not already owned are acquired for approximately $10 mil. Collagen, which had increased its stake in the privately held company to roughly 80% last year ("The Gray Sheet" June 3, 1996, p. 8), plans to make Cohesion the "centerpiece" of its Collagen Technologies R&D business -- which is scheduled to be spun off to Collagen shareholders as a separate company in 1998 ("The Gray Sheet" Nov. 3, In Brief). The new company, to be renamed Cohesion Technologies, plans to commence U.S. studies of its lead product candidate, the CoStasis "sprayable" hemostatic device (formerly CollaSeal), for multiple indications in 1998. The firm recently commenced European studies of the device for use in cardiothoracic indications...
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