Marine biotechnologies firm wins £3.8 million investment
Cardiff marine biotechnologies business Jellagen is to step up sales of its next-generation jellyfish collagen products after attracting £3.8 million from investors.
The company - which is the first commercial manufacturer of jellyfish collagen for cell culture and medical applications including wound care and regenerative medicine - has attracted funding from Newable Private Investing, Development Bank of Wales and angel investors.
It will use the investment to develop its products and grow sales. As a result it expects to double in size from 6 employees to 12.