3D Systems Corporation (NYSE: DDD) has disclosed that it has inked a co-development agreement with CollPlant Biotechnologies (NASDAQ: CLGN). Both the firms have inked an agreement for a 3D bioprinted regenerative soft tissue matrix for use in breast reconstruction procedures in combination with an implant.
Furthermore, the soft tissue matrix is designed to back the lower portion of the breast while developing the implant pocket and offering enhanced coverage of the implant. Using 3D bioprinting, these matrices can be intended to correspond to the patient’s anatomy to back the breast implant.
3D Systems Corporation [NYSE: DDD] shares were skyrocketed 23.79% as the firm has gained +6.87 at the time of writing on Tuesday. 3D Systems Corporation [NYSE: DDD] share price went from a low point around $4.60 to briefly over $56.50 in the past 52 weeks, though shares have since pulled back to $35.98. DDD's market cap has remained high, hitting $3.75 billion at the time of writing.
Moreover, WHO disclosed that in 2020 nearly 2.3 million women have been diagnosed with Breast cancer. It has been disclosed that the survival probabilities are 90% or greater due to highly effective cure which is growing the focus on providing enhanced alternatives for reconstruction.
Additionally, through this co-development agreement, 3D Systems and CollPlant will utilize the combined expertise in 3D printing, healthcare, bioprinting, and bioinks to develop 3D bioprinted soft tissue matrices using rhCollagen.