LONDON (Alliance News) - Collagen Solutions PLC on Tuesday said it has signed a joint venture in China with Cre8ive, an investment vehicle.
Collagen will provide an initial investment into the joint venture, which will seek to boost the expansion of the UK company's medical-grade collagen components in China.
The initial holding of the joint venture will be 60:40 in favour of Collagen.
No financial details were disclosed.
"The purpose of the joint venture company will be to expedite the marketing and supply of our medical-grade collagen materials and regenerative medicine products to customers within the People's Republic of China. It is our intention to build our business in China as well as exploring opportunities to expand our activities in finished medical devices," said Collagen Chief Executive Stewart White.
Shares in Collagen were up 2.4% to 6.53 pence Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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