Seafood giant Thai Union Group PCL has confirmed its Corporate Venture Capital (CVC) Fund has joined other strategic and financial partners in investing in UK-based Jellagen’s £8.7 million Series A fundraising round.
Founded in Cardiff, Wales, in 2015, Jellagen is a medical biotechnology company developing collagen biomaterials derived from jellyfish. Its mission is to revolutionise regenerative medicine through a range of medical devices and culture applications.
Early clinical findings from Jellagen’s studies found 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 said its investment in Jellagen opens doors for further collaboration to be jointly explored across areas of sourcing and processing, as well as applications within existing and new Thai Union 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,” Thai Union President and CEO Thiraphong Chansiri said.
Jellagen’s CEO, Thomas-Paul Descamps, Jellagen’s CEO, said the investment would support the growth of Jellagen as a future global medical device and biomaterial leader.
“In addition, the investment will secure Jellagen’s sourcing and enable the future manufacturing scale-up. Combining the immense possibilities of our Collagen Type 0 with this large industry player will help unleash the considerable potential of the Jellagen technology platform.”
Thai Union’s CVC fund was established in 2019. It has identified alternative proteins, functional nutrition and biotechnology, in addition to new technologies along the food value chain, as strategic areas for investment. The fund invests in, and partners with, early-stage, entrepreneurial companies working in these areas
