LONDON (Alliance News) - Collagen Solutions PLC on Friday said it is set to work with Jellagen Pty Ltd as part of a UK government grant programme to improve the production of medical-grade collagen derived from jellyfish.
Collagen said the funding from the small firms' Merit Award for Research and Technology, or SMART, programme is nearly GBP100,000 and will help the two companies improve the quality of the product and the efficiency of extracting collagen from jellyfish.
Collagen will work with Jellagen, the Centre for Nano Health at Swansea University, and University College London on the project.
"The SMART funding will allow Collagen Solutions to provide further support in order to develop novel commercial forms of Jellyfish collagen for Jellagen," said Collagen Chief Executive Officer Stewart White.
Collagen Solutions shares were trading lower on Friday, down 1.5% to 8.00 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.