Collagen Solutions Plc (AIM: COS), the developer and manufacturer of biomaterials and regenerative medicines for the enhancement and extension of human life, announces an update to its order book/contracted development revenues following the signing of a significant new contract.
The Company has performed well, and has recently finalised a number of contracts, including the Novabone supply agreement announced on 7 July and a new supply agreement with an existing client for a long-term supply with larger contracted volumes as at 15 July 2020. With the new contract in place, the Company now has orders or contracted development milestones for FY 2021, together with revenue already recognised through the first three months of the financial year, worth approximately £4.3m (representing 108% of the sales in the last financial year).
Jamal Rushdy, CEO of Collagen Solutions said: “We are delighted to have secured this new contract. In our trading update announced in June, we said our order book was at approximately £3.3m, which was 82% of FY 2020 revenue. This further strengthening of the order book now puts us in a strong position to deliver a successful financial year. We remain confident that we can generate value to shareholders over the medium term.”
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