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Share issue launched

Collagen raises £12m for stem cell research

Scottish stem cell research company Collagen Solutions is raising £8 million in a share issue to invest in the development of its product range.

The issue is being conducted via a placing and open offer to existing shareholders. Norgine Ventures is subscribing for an additional £4m in secured private bonds with warrants.

Jamal Rushdy, CEO of Glasgow-based Collagen said: “This strategically important funding round strengthens our balance sheet and provides the resources to accelerate our core biomaterials and tissue business.

“Furthermore, the capital will provide the company with the opportunity to fund the development of a range of exciting new products for use in the rapidly emerging field of regenerative medicine.

“We are appreciative of the support from both existing and new shareholders, and to our stakeholders and global staff in the UK, US, South Korea, and New Zealand.

“We look forward to updating the market about our progress as we embark on this exciting phase of the company’s development.”

 

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