Jellagen raises £550k in equity investment led by Finance Wales to scale production of jellyfish-derived collagen.
Finance Wales led the funding round, which includes backing from xénos and SWAIN angel networks.
Cardiff-based Jellagen manufactures jellyfish collagen for use in regenerative medicine and cell culture research.
Jellagen has secured £550k in equity funding led by Finance Wales, with participation from xénos, the Wales Business Angel Network, and SWAIN. The Pembrokeshire-based medical technology company aims to use the capital to scale up its processing capabilities and advance the development of its jellyfish-derived collagen product portfolio.
Founded in 2013, the business specialises in manufacturing pharmaceutical-grade Type I and Type II collagen proteins for use in biomaterials, wound care, and cartilage repair. The fresh financing will also support business development initiatives as the firm prepares to bring its products to broader commercial markets.
Investor perspective
"Alex and Andrew have come up with a novel approach to developing medical grade collagen which has significant potential in a range of applications, including improving bone grafts. They also have some exciting plans to develop an innovative range of products in future. Finance Wales is pleased to lead this investment round as it will now enable Jellagen to take some significant steps forward."
Melanie Goward
Deputy fund manager, Finance Wales
Use of funds
- 01Build out infrastructure
- 02Continue product development
- 03Accelerate go-to-market