03 Mar 2017
Following receipt of significant second round funding, which involved current investors Finance Wales, Xenos, the Welsh Angel Network and new angel investors from London Business Angels / Angels in MedCity, Jellagen the Wales based Medtech and biomaterial company has opened a new 7,500 square foot facility in Cardiff. Jellagen Pty extracts collagen from jellyfish harvested off the West Wales coast.
The first-of-its-kind facility will allow the extraction of high-purity collagen from jellyfish, a sophisticated engineering and manufacturing achievement that will make Jellagen the first commercial manufacturer of jellyfish collagen for research, medical, biotech and pharmaceutical markets.
Professor Andrew Mearns Spragg CEO and Founder said: “This is a key milestone in Jellagen’s evolution. To be able to manufacture jellyfish collagen in bulk quantities enables us to supply and meet the needs of world leading medical device, biotechnology and pharmaceutical companies.”
Sarah Haywood, CEO of MedCity, unveiled a commemorative plaque at the launch event. In November 2015, she helped Jellagen raise £1.8m through MedCity’s Angels in MedCity investing programme.
Sarah Haywood said: “Jellagen’s innovative idea to exploit jellyfish collagen has always intrigued me as it combines the commerciality of producing next generation biomaterial, with the environmental concerns of increasing jellyfish populations. I’m pleased this funding has helped Jellagen expand its processing capacity and I can’t wait to see the future take shape for this one-of-a-kind manufacturer.”
Severn Seed Finances’ David Maas and Lisa Mitchard attended the opening having previously been involved in raising start up seed funding for Jellagen. David said: “It’s great to have been involved in raising finance to launch this exciting business, and see the important contribution angel investors have made in supporting the Medtech sector.”
UK based private investors can take advantage of venture tax schemes such as the Seed Enterprise Investment and Enterprise Investment Schemes which offer attractive tax breaks for investing in early stage businesses such as Jellagen.