Shares of Glasgow-based Collagen Solutions rose another 15% on Monday after it published an update on its strategic review and formal sale process “and receipt of multiple indications of interest.”

The company is a developer and manufacturer of biomaterials and regenerative medicines “for the enhancement and extension of human life.”

On April 16 shares of Collagen Solutions soared about 75% after it announced it is in discussions “with a number of parties regarding a potential sale of the company.” 

On Monday, Collagen Solutions said in a stock exchange statement: “The company has received indications of interest in respect of (i) a purchase of the company as a whole (ii) a purchase or investment in a part of the business of the company and (iii) a refinancing of the company.

“The company looks forward to engaging with relevant parties in a constructive and positive manner with a view to optimising value for shareholders. 

“There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made, or that any transaction will ensue …

“The board reserves the right to alter any aspect of the process or to terminate it at any time and will make further announcements when appropriate.

“Subject always to the provisions of the Takeover Code, the board reserves the right to reject any approach or terminate discussions with any interested party or participant at any time.”