Jellagen raises £3.8m to accelerate sales of jellyfish-based medicine
The funding round was led by Newable Private Investing, the Development Bank of Wales, and angel investors.
Cardiff-based Jellagen manufactures jellyfish collagen for use in regenerative medicine and cell culture research.
Jellagen has secured £3.8m in funding to drive commercial expansion and strengthen its intellectual property portfolio. The Cardiff-based marine biotechnology company produces jellyfish collagen as an alternative to conventional sources for regenerative medicine and research markets.
The investment will be directed towards accelerating sales within the cell culture market, expanding the specialist management team, and developing medical devices. Funding was supplied by Newable Private Investing, the Development Bank of Wales, and angel investors.
Founded in 2013, the firm manufactures cell culture reagents used for growing stem cells. The new capital aims to support the company as it advances its product range and extends its market reach.
From the founder
"Jellyfish represent a source of ‘next generation’ collagen with diverse application potential, including for research in the medical, biotech and pharmaceutical markets,"
Andrew Mearns Spragg
Founder and CEO at Jellagen
Investor perspective
"Jellagen is a great example of an exciting Welsh business that’s pushing technological boundaries,"
Carmine Circelli
Technology ventures investment executive, Development Bank of Wales
Use of funds
- 01Grow the team
- 02Invest in sales and marketing
- 03Build out infrastructure
