Pembrokeshire-based Jellagen has raised £550,000 in equity investment to help expand its processing capacity and develop a range of collagen-based medical technology products. Berry Smith’s corporate team acted on behalf of the company.
The healthcare company, which operates from a processing facility in Tenby, gained the investment led by the Welsh Government's investment arm Finance Wales through a six-figure funding package.
The rest of the investment came from a syndicate of six angel investors facilitated by xénos, the Welsh business angel network, and a member of the SWAIN business angel network.
As well as expanding production and developing new products, Jellagen will use the financing to strengthen its business development operations and bring products to market.
Jellagen specialises in developing jellyfish-derived collagen proteins for a variety of skincare and medical device applications. These products are then made by Glasgow-based strategic partner Collagen Solutions.