Jellagen Pty Ltd completes £550,000 equity investment from Finance Wales, xénos and SWAIN to produce and commercialise medical grade jellyfish collagen and products.

 

Jellagen Pty Ltd, a new medical-technology and healthcare company announces the completion of a £550,000 equity investment led by Finance Wales with co-investment by members of xénos, the Wales Business Angel Network and SWAIN.  

 

Jellagen aims to be the world’s first provider of pharma grade, GMP and ISO certified Type I and Type II jellyfish collagen as a raw material. Jellagen was founded in May 2013 by 2 highly experienced entrepreneurs Alex Mühlhölzl and Andrew Mearns Spragg.

 

The company offers the full spectrum of jellyfish derived collagen proteins, mainly Type I – Type V, with others available, as well as a range of additional products in development for derma care and medical device applications.  Collagen is used in the manufacture of biomaterials due to its ability to form strong fibres and used in many forms, including gel scaffolds, and membranes, for a number of medical applications ranging from wound care and cartilage repair through to bone grafts.

 

Jellagen operates from a processing facility in Pembrokeshire, Wales with its medical grade product being produced by its strategic partner Collagen Solutions Plc, Glasgow.  

 

Jellagen will use the new financing to expand its processing capacity as well as developing a range of collagen based med-tech products. The company will also use the financing to strengthen its business development activities and get products to market.

 

Alex Mühlhölzl the Company’s Founder and Chief Technology Officer said: “We are really pleased to have secured investment from Finance Wales, a syndicate of private investors from xénos and a member of the SWAIN business angel network. These funds will be used to expand and improve our processing facility as well as some product development and collaborative research projects”  

 

Andrew Mearns Spragg, the Company’s Co-Founder & Chief Executive Officer added “We welcome the investment from Finance Wales, the xénos syndicate, and SWAIN and also the continued partnership with Collagen Solutions Plc. The investment and partnership provide Jellagen with a great strategic opportunity for the marketing and development of novel GMP medical grade collagen products from a natural and sustainable biomaterial resource.”

 

As it expands its headquarters in Pembrokeshire, Jellagen plans to recruit up to four new staff over the next two years through its links with Cardiff and Swansea universities.

 

The Company was initially funded through internal investment and a SMART Scotland award which was used for a technical and commercial feasibility project. 

 

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