Thai Union Group PCL has announced that its Corporate Venture Capital (CVC) Fund has joined other strategic and financial partners investing in UK-based Jellagen’s £8.7 million Series A fundraising round.
Founded in 2015, Jellagen is a medical biotechnology company developing collagen biomaterials derived from jellyfish. Their mission is to revolutionise regenerative medicine through a range of medical devices and culture applications.
Early clinical findings from Jellagen’s studies prove Collagen Type 0, derived from jellyfish, to be superior to mammalian counterparts, especially in medical and healing areas. The funding in this round will be used to accelerate medical development of Collagen Type 0, as a sustainable collagen biomaterial to be used as a treatment for skin diseases and as a biomaterial for tissue reconstruction.
Thai Union’s investment in Jellagen opens doors for further collaboration to be jointly explored across areas of sourcing, processing, as well as applications within existing and new Thai Union products.
Thiraphong Chansiri, President and CEO of Thai Union said, “As a seafood industry leader, we strive to leverage innovation in our business and products. Jellagen is at the forefront of jellyfish collagen research and is developing a marine collagen platform which will have applications across medical, cosmetics and the food and nutrition space. We’re looking forward to exploring collaboration opportunities together in our global research and development and processing facilities around the world.”
Source: BioSpectrumAsia
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