A formulation and method are provided for treating wounds by promoting healing and tissue repair and/or regeneration therein. The formulation is a topically administrable selectively flowable colloidal suspension that contains a tropocollagen, at least one adjuvant effective to enhance the capability of the formulation or the tropocollagen to promote tissue repair and regeneration following topical administration to a wound, and a physiologically acceptable carrier or excipient. At least 50% of the tropocollagen is composed of renatured tropocollagen, generally renatured atelopeptide tropocollagen. Methods for using the formulation to heal a wound and effect tissue repair and/or regeneration therein are also provided.
