Berlin / Teltow, 13 February 2018 – CO.DON AG, one of the leading providers of cell-based regenerative treatment methods for articular cartilage damage, has set up a subsidiary in the Netherlands, headquartered in Amsterdam. The establishment of CO.DON NL Group B.V. is an important first step for penetrating the Dutch market. At the same time the office based in Amsterdam will be the starting point for serving the Belgian market in future.
Ralf Jakobs, CEO of CO.DON AG: “Establishing a local presence by means of subsidiaries is a legal necessity and a sensible strategic step for moving into the core European markets; it marks the beginning of our focused European market entry strategy, but not its conclusion. This calls for further intensive work to meet the national requirements at regulatory and statutory level. We are in close contact with the relevant authorities and agencies in the Netherlands and elsewhere in order to fulfil all these conditions on time and in line with our strategy.”
The Netherlands are CO.DON’s third European site outside Germany, following Switzerland and the United Kingdom. Establishing a new subsidiary there is a further step in the implementation of the company’s corporate strategy for opening up the European market.
CO.DON AG develops, produces and markets autologous cell therapies for the minimally invasive repair of cartilage damage. The product being marketed is a cell therapy product that uses only the patient's own cartilage cells ("autologous chondrocytes"). CO.DON's method is currently used in over 200 clinics in Germany and more than 12,000 patients have already been treated. In July 2017 we received marketing authorisation for the advanced therapy medicinal product Spherox from the European Medicines Agency. The shares in CO.DON AG are listed on the Frankfurt Stock Exchange (ISIN: DE000A1K0227). Executive Board: Ralf M. Jakobs.
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