20th Feb 2019 10:44
LONDON (Alliance News) - Collagen Solutions PLC on Wednesday said it has divested its stake in Jellagen Ltd in a private transaction worth GBP215,000.
The manufacturer of biomaterials and regenerative medicines held a minority stake in Jellagen, a firm developing collagen from jellyfish, since 2014 and collaborated with it on a technology development.
"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," Collagen Solutions Chief Executive Jamal Rushdy said.
Collagen Solutions shares were trading up 2.4% at 3.84 pence each.
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