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20 Feb 2019 | 13:58

Collagen Solutions sells stake in jellyfish products group Jellagen

Regenerative medicine company Collagen Solutions said it had sold its stake in marine biotechnology company Jellagen for around £215,000 to an undisclosed buyer.

Jellagen was focused on developing collagen biomaterials from jellyfish and Colleagen had held a minority stake in the company since 2014.

'We remain interested in Jellagen's progress as it continues to develop its jellyfish collagen cell culture products for the research markets,' chief executive Jamal Rushdy said.

'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.'

At 1:58pm: (LON:COS) Collagen Solutions Plc share price was +0.05p at 3.8p

Story provided by StockMarketWire.com
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