Jellyfish company completes £1.5m investment round
4 May 2016 by Evoluted New Media
Jellagen Pty Ltd, a company specialising in collagen biomaterial, has successfully completed a £1.5m equity round.
Jellagen Pty Ltd, a company specialising in collagen biomaterial, has successfully completed a £1.5m equity round.
The company aims to provide a safer and more technically versatile biomaterial using jellyfish collagen compared to what is currently available. The investment was aided by Finance Wales and Angels in MedCity.
Dr Spragg, Jellagen co-founder, said: “We are really pleased by the continued investment and support shown by Finance Wales which reflects the good achievements made by the company to date. The new and existing angels bring a wealth of sector as well as financial experience and crucially will be able to open doors that will be of significant value as Jellagen grows.
The new investment will be used for both expansion of the jellyfish collagen processing method as well as the implementation of a Quality Management System to support a Good Manufacturing Practice process. Strengthening of the company’s intellectual property portfolio, marketing and business development will also be funded by this finance round.
Anthony Clarke, London Business Angels – part of Angels in MedCity – CEO said: “Following this substantial funding round, Jellagen is now well placed to grow its exciting business of commercialising its range of next generation jellyfish collagen biomaterial products.”
Collagen is used for a variety of medical purposes, such as wound care and soft tissue repair to bone grafts. Jellagen’s current range of products is used for cell culture application and is available either as a solution or dried collagen.
