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Marine Biotechnologies firm Jellagen on course for accelerated growth thanks to £3.8m funding from Newable Private Investing, Development Bank of Wales and Angel Investors
Jellagen, a pioneer in marine biotechnologies based in Wales, has closed a £3.8m funding round led by Newable Private Investing, the Development Bank of Wales, and Angel Investors.
Newable Private Investing is one of the UK’s leading private investment groups, providing support to cutting-edge start-ups.
As the first commercial manufacturer of next-generation jellyfish collagen for cell culture and medical applications – including wound care and regenerative medicine – Jellagen will use the funding to accelerate sales of its products into the cell culture market and regenerative medicine, whilst growing its specialist management team and strengthening its intellectual property portfolio.
The new funding builds on earlier investment secured from Newable, Angels in MedCity and the Development Bank of Wales, which helped Jellagen launch a first of its kind manufacturing facility for the extraction of collagen from jellyfish at its Cardiff site. This facility recently received a key quality certification ISO 13485:2016 that specifies requirements for a quality management system where an organisation needs to demonstrate its ability to provide medical devices and related services that consistently meet customer and applicable regulatory requirements.
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