A leader in advanced collagen biomaterials derived from jellyfish has closed an £8.7 million Series A equity financing round.
Jellagen is looking to open up a broad range of possibilities for revolutionising regenerative medicine through medical devices and culture applications.
Funding from major Welsh institutions and international investors will enable Jellagen to continue development of its jellyfish-derived collagen – Collagen Type 0 – and advance its leading program of product development towards human trials and regulatory filing.
Most collagen is currently derived from mammalian sources, including pigs, cows and rats which carry the risk of disease and virus transfer when used in humans. Jellagen sources its Collagen Type 0 from jellyfish (Rhizostoma pulmo) which it says avoids these risks.
Preclinical in vivo results have proven Collagen Type 0 to be superior to its mammalian counterparts in medical applications, according to the company, and it also has the potential to deliver healing benefits in human applications.
Jellagen has established development collaborations with top research organisations including the Mayo Clinic in the US and others in Europe to investigate and corroborate these findings.
The round is funded by new investors Cardiff Capital Region City Deal and Thai Union Corporate Venture Capital Fund, with follow-on funding from seed investor the Development Bank of Wales and further backing from existing UK and international shareholders.
“It is a great achievement and a major step to have secured this pivotal Series A round in such a challenging economic environment,” said Thomas-Paul Descamps, CEO of Jellagen. “I want first to thank our new investors and our existing shareholders for their trust in the incredible potential of the Jellagen technology platform.
“Cardiff Capital Region City Deal and the Development Bank of Wales are providing us with a unique local Welsh ecosystem to support the growth of Jellagen as a future global medical devices and biomaterial leader based in Wales.
“In addition, the investment of Thai Union is a game-changer in securing Jellagen sourcing and enabling future manufacturing scaleup.
“Combining the immense possibilities of our Collagen Type 0 with this enlarged investor base will help unleash the considerable potential of the Jellagen technology platform.”
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