CollPlant Biotechnologies Ltd.

Welcome to the Coal Plant Biotechnologies Investor Conference Call to discuss financial results for the second quarter of 2024 and corporate updates. At this time, all participants are in a listen-only mode. 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. Please note this conference is being recorded. Now, I'll turn the call over to Dan Ferry of LifeSci Advisors. Please go ahead, sir.

I would like to welcome everyone to Coal Plant Biotechnology's Financial Results Conference Call to discuss the results for the second quarter ended June 30th, 2024, where management will also 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 Aran Rotem, Deputy CEO and Chief Financial Officer, will provide a summary of Coal Plant's financial results for the second quarter ending June 30, 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 and 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.scc.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, August 20, 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 ColdPlant published earlier today and which is available on ColdPlant's website at ir.coldplant.com. Now, let me turn the call over to Yahil Tal, Chief Executive Officer of ColdPlant Biotechnologies. Please go ahead, sir.

Good morning, everyone, and thank you for joining us today on ColdPlant Investor Conference call to discuss our second quarter 2024 financial results and corporate development as we continue our mission to be a leader in the field of regenerative medicine. As you may have seen, we have recently made great progress with our state-of-the-art novel breast implant program. Following the positive data from the preclinical studies that we announced earlier this year, we are happy to share our achievement to produce commercial size implants composed of our proprietary Rh-collagen-based bio-inks printed with Stratasys Origin-1 3D bioprinter. Furthermore, we are now testing 200cc volume implants in preclinical studies. We have great excitement about the possibilities associated with our regenerative breast implant product candidate since it has the potential to overcome the challenges of existing breast implants made of silicone or autologous fat tissue. We remind you of the opportunity to address the global breast implant market, which is estimated at approximately $3 billion, with breast reconstruction and augmentation procedures representing the second most common plastic surgery procedures performed worldwide today. This market is projected to grow by another $3.5 billion by 2033 and become a $6.5 billion market. Currently, this is a market that has been underserved in terms of safety and performance. In terms of safety, current materials can cause immunogenicity for patients and even form a cancer known as breast implant-associated anaplastic loud cell lymphoma. The availability of a regenerative breast implant could be a revolutionary alternative for aesthetic and reconstructive procedures given the immunogenic related adverse events associated with currently available implants. In terms of performance, we believe that patients could potentially benefit from a regenerative breast implant that will be replaced over time with newly grown human breast tissue that is integrated with the host tissue rather than having a synthetic substitute which may elicit immune response. The preclinical study that we are conducting with the commercial size implant follows the study we initiated in December of last year and it is intended to test the ability of the implants to grow natural breast tissue and simultaneously completely degrade over time. We remain encouraged about the prospect of these implants based on the results that we saw with the January 2023 study report which showed evidence of well-developed connective tissue containing blood vessels or neovascularization inside the implant. Progressing tissue ingrowth within the implant was also noticed, confirming tissue regeneration. Lastly, no adverse tissue reactions within the implantation site were present. We look forward to reporting results from the current animal studies in the fourth quarter of this year and the first quarter of 2025. Now shifting to our other lead program, the dermal and soft tissue filler that we co-developed with our partner, AbbVie. Here we continue our important development efforts related to our collaboration with AbbVie or the dermal filler product, which is in the clinical phase. Last year, in the second quarter, we achieved a milestone triggering a $10 million payment that was made from AbbVie to us, and of note, per our agreement with AbbVie, additional potential payments related to specified milestones are still applicable plus meaningful product royalties on the candidate should it become an approved product. Though the dermal filler market experienced a recent slowdown in growth, we have learned that it has recently bounced back. This is also evidenced by recent merger and acquisition activity in this space. As it regains a foothold, innovation will the key to sustained growth in this large market that hasn't seen any significant advancement in the past decade. The dermal filler product candidate that we are collaborating with Avion has its own potential to create a paradigm shift in the aesthetics market since in addition to tissue filling, it is expected to impart regenerative properties to the skin tissue. In addition to our partner program with AbbVie, we have another version of a dermal filler in our pipeline under development, our photocurable dermal filler. We have been granted patents in multiple territories pertaining to our photocuring technology, specifically in the US, Europe, Brazil, Australia, and Israel. Furthermore, the application was recently allowed in China and will issue shortly. Under the agreement with AbbVie, Corpant has granted AbbVie the right of first negotiation to obtain a worldwide exclusive license to the photocurable dermal filler product candidate. Shifting to our progress in corporate development recently, we're proud to have released our very first environmental, social, and governance or sustainability report. This was done after carefully establishing a corporate sustainability strategy with clear targets in key areas that we believe are crucial to our stakeholders. The report reflects Coal Plant's commitment to fostering environmental sustainability and enhancing human health, as well as advancing social and corporate governance objectives. I would like to emphasize that our overall strategy is driven by our vision to lead in regenerative medicine and improve global health with our innovative collagen technology. This first report includes tangible steps we are taking towards enabling a sustainable future, and the goals can be seen here in the next slide. Our areas of focus are represented by key pillars that span from climate action and energy efficiency to health and safety and sustainable sourcing. Examples of actions that the company plans to take include enhancing its plant-based production, reducing emissions, and delivering safe and reliable medical solutions. We believe these key areas hold the highest impact related to fostering environmental sustainability and enhancing human health, as well as furthering social and corporate governance objectives that contribute to the company's overall advancement. Core Plan's unwavering dedication to responsible and sustainable business practices concurrently focuses on 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?