Marine biotechnologies firm wins £3.8 million investment

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.

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