Collagen Solutions PLC (LON:COS) has raised around £215,000 from the sale of its stake in Jellagen Ltd. the private marine biotechnology company focused on developing collagen biomaterials from jellyfish in a private transaction.
The AIM-listed developer and manufacturer of biomaterials and regenerative medicines said it had held a minority equity position in Jellagen since 2014 and also collaborated on technology development.
The move to sell the stake follows the most recent investment round in Jellagen in which the Collagen did not participate, the company added.
Jamal Rushdy, Collagen Solutions’ CEO, commented: "We remain interested in Jellagen's progress as it continues to develop its jellyfish collagen cell culture products for the research markets, and our decision to divest our shares does not preclude future potential opportunities to collaborate with Jellagen.
“We are pleased with our return on this investment, which we can use to further support our own growth opportunities."