CollPlant Biotechnologies Ltd.

Welcome to the Cold Plant Biotechnologies Investor Conference call to discuss financial results for the first quarter of 2024 and corporate updates. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. Now, I'll turn the call over to Dori Kurowski of LifeSci Advisors. Please go ahead.

I would like to welcome everyone to Coal Plant Biotechnology's Financial Results Conference Call to discuss the results for the first quarter ended March 31, 2024, and provide a corporate business update. With us on the call today from Coal Plant are Yahil Tal, Chief Executive Officer, who will provide an overview of the company's programs and associated updates. and Aron Rotem, Deputy CEO and Chief Financial Officer, who will provide a summary of Coal Plant's financial results for the first quarter ending March 31, 2024. Both will be available to answer questions at the end of the call. Before we get started, I would like to remind everyone that statements made on this conference call may include forward-looking statements. Actual events or results could differ materially from those expressed or implied by any forward-looking statements as a result of various risks, uncertainties, and other factors, including those set forth in the Risk Factors section of Coal Plant's filings with the Securities and Exchange Commission. These filings can be found at www.sec.gov or on Coal Plant's website at www.coalplant.com. In addition, any forward-looking statements made on this call represent Coal Plant's views only as of today, May 29, 2024, and should not be relied upon as representing the company's views as of any subsequent date. Coal Plant Management specifically disclaims any obligation to update or revise any of these forward-looking statements. Finally, Coal Plant Management will refer to certain financial measures not reported in accordance with GAAP on this call. You can find reconciliations of these non-GAAP financial measures to the GAAP financial measures in the earnings press release that Coal Plant published earlier today and which is available on Coal Plant's website at coalplant.com. Now let me turn the call over to Yigal Tal, Chief Executive Officer of Coal Plant Biotechnologies. Please go ahead, sir.

Good morning, everyone, and thank you for joining us today on Coal Plant's investor conference call. to discuss our first quarter 2024 financial results and corporate developments. CorePlant's mission is to discover, develop, and deliver collagen technology and regenerative medicine products to improve and prolong lives. We continue to carefully focus on our core programs and our supportive partners to advance this mission with the goal of creating products that enable the regenerations of tissue and organs. Since last year, we have been steadily advancing our innovative programs in the field of regenerative and aesthetic medicine. The dermal filler product that Avi, our business partner, developed with our collagen technology is in clinical phase, and our regenerative breast implant program is in the preclinical phase. On this slide is the dermal filler that we are partnering with Avi on. This product candidate is our top focus. Though the dermal filler market has lagged somewhat, we and AbbVie, as stated in their quarterly conference calls, expect a ramp-up in growth of the U.S. fillers market. A rebound has also been evident, as recently reported publicly by other companies in the injectables aesthetics arena. Aside from overall growth in this area, this particular product candidate has its own potential to create a paradigm shift in the dermal fillers market, since in addition to tissue filling, it is expected to impart regenerative properties to the skin tissue. In June last year, we announced the achievement of an important milestone under this collaboration, which triggered a $10 million payment from AbbVie to Coldplant. Per Coldplant's agreement with AbbVie, Coldplant has the potential to receive additional milestones and option products payments, as well as receive meaningful royalties on product sales. In addition to our partnered program with AbbVie, we have another version of a dermal filler under development, our photocurable dermal filler. During the last year, Corpland was granted patents in the US, Brazil, Australia, and Israel that relates to its photocuring technology that serves as the basis for its photocurable dermal filler product candidate. Under the agreement with AbbVie, Corpland has granted AbbVie the right of first negotiation to obtain a worldwide exclusive license to the photocurable dermal filler product candidates. Now I will discuss the latest developments with our other lead candidate, our regenerative breast implant program. The regenerative breast implants that we are developing are comprised of our proprietary non-animal derived Rh collagen and other biomaterials. Their uniqueness can be attributed to their design to both promote tissue regeneration and degrade in synchronization with the growth of natural breast tissue. This is a market that has been underserved in terms of safety and performance for decades. In 2023, the global breast implant market size reached $2.9 billion. And the market is expected to reach $4.1 billion by 2032, exhibiting a compound annual growth rate of 3.7% during 2024 to 2032. You may recall the positive results from our first large animal study announced in January of last year, which demonstrated progressive stages of tissue regeneration after three months, as highlighted by the formation of maturing connective tissue and neovascular networks within the implants, with, importantly, no adverse events reported. Following this study, Colplant conducted additional large animal studies last year that were intended to further optimize the implant design and composition. In these studies, new tissue formation and neovascularization with no adverse tissue reactions were demonstrated, confirming previous results. We are currently conducting our latest large animal study, evaluating clinically relevant commercial size implants that we began in December 2023. These studies results are intended to be used for the design of a pivotal large animal study, the details of which we plan to discuss with FDA. We look forward to reporting results from these animal studies in the fourth quarter of this year and the first quarter of 2025. We have said previously, but it bears repeating, we cannot stress enough the improvements that the regenerative breast implant could provide, given the adverse events associated with currently available silicone implants, such as more serious breast implant-associated anaplastic loud cell lymphoma, which is a type of a cancer. Every year in the U.S. alone, hundreds of thousands of people experience adverse events that range from autoimmune symptoms to this most serious side effect. Our breast implants are expected to regenerate breast tissue without eliciting immune response and thus may provide a revolutionary alternative for aesthetic and reconstructive procedures. Through the development of regenerative breast implants, COPLANT is establishing the technological building blocks that are essential for tissue and organ manufacturing. We believe this will position Coldplant as a market leader in the field of regenerative medicine in accordance with the company's vision statement. Regarding ESG, environmental, social, and governance, since last year, we have embarked on a series of bold initiatives aimed at significantly reducing Coldplant's carbon footprint and harmonizing these initiatives with much broader overarching sustainability objectives. Following our ESG strategy, we have prepared our inaugural report that we plan on publishing this quarter. The report reflects coal plant commitment to fostering environmental sustainability, enhancing human health, as well as advancing social and corporate governance objectives. Here in this slide you see our areas of focus represented by material pillars that span from climate action and energy efficiency to health and safety and sustainable sourcing. Our commitments in this material areas underscore coal plants unwavering dedication to responsible and sustainable business practices promising long-term value creation for our stakeholders. That concludes my initial remarks. Now I will turn the call over to our Deputy CEO and Chief Financial Officer, Eran Rotem, to provide a recap of the financial results. Eran?