CollPlant Biotechnologies (NASDAQ:CLGN) said its collaboration with AbbVie (NYSE:ABBV) has been terminated, prompting the company to implement cost-cutting measures including a reduction of around 50% of its workforce.
The termination was initiated by Allergan Industrie SAS, an AbbVie subsidiary, which exercised its contractual right to exit the agreement with 60 days’ notice. The partnership, established in February 2021, focused on developing dermal and soft tissue fillers for the medical aesthetics market using CollPlant’s recombinant human collagen technology.
Chief Executive Officer Yehiel Tal said in a letter to shareholders that the company is now moving forward with a restructuring plan aimed at lowering expenses and streamlining operations. These steps are expected to extend CollPlant’s cash runway into the fourth quarter of 2026.
CollPlant added that it is actively seeking new strategic partners, particularly within the aesthetics space, to advance its product pipeline. Discussions are ongoing with potential collaborators regarding the joint development of dermal filler solutions that combine the company’s collagen platform with hyaluronic acid.
The company’s pipeline is built around three main areas: regenerative dermal and soft tissue fillers, regenerative breast implants, and rhCollagen-based bioinks for 3D bioprinting. CollPlant aims to expand its dermal filler portfolio and is targeting the start of clinical trials within the next two years.
More recently, the company introduced BioFlex, a kit based on its rhCollagen technology designed for Digital Light Processing 3D bioprinting applications. In October 2025, researchers at Mayo Clinic reported the development of a 3D bioprinted skin model using CollPlant’s plant-derived rhCollagen, according to findings published in Archives of Dermatological Research.
CollPlant has also strengthened its North American presence through a distribution agreement with a U.S.-based logistics provider offering cGMP-compliant storage and distribution services.