Newable’s investment and support gives Jellagen the confidence to take the next step
The Newable Private Investing team recently interviewed Andrew Mearns Spragg, CEO of Jellagen,a Med-Tech business manufacturing next generation collagen products sourced from Jellyfish for application in 2D and 3D cell culture and medical devices.
“Ever since I was a boy, I’ve been fascinated by anything to do with the ocean. I ended up in academia, in marine chemistry, that’s where I made the connection between jellyfish and collagen. Most of the collagen used in the biotech industry comes from cows, pigs and rats – that’s both problematic and unsustainable.
Jellyfish, on the other hand, are increasing across the oceans and they’re a brilliant source of high-grade collagen, suitable for all human medical applications. I set up Jellagen to turn this insight into a business.
We launched in 2014. By September 2015, we’d reached scale-up stage and were looking for some more serious investment. That’s when the Government’s Life Science hub connected us to Newable. We met with the team and explained what we do. They liked our story and invited us to pitch to their angel group. Right after our presentation, one of the investors came over and said, “I want to be your lead angel”. It was amazing really.
We met up, did the due diligence and then he reached out to his network to bring together a syndicate of other investors. With that backing in place, Jellagen was put forward and selected for the Fund.
Our £1.8m scale-up injection allowed us to move out of university premises, expand our team, develop our technology and secure vital patents. Now, looking forward, our revenue is growing, our product range is expanding and we’re starting to see exit opportunities on the horizon.”
Newable Private Investing (NPI), formerly London Business Angels (LBA), has been operating since the early 1980s. NPI has the longest track record in the business and also facilitates EIS/SEIS in house funds. Since 2000, Newable Private Investing has helped over 200 tech companies successfully raise over £80 million.
For more information about our current investment opportunities, and to join our Angel network, visit https://investment.newable.co.uk/.