Collbio Limited Purchases Assets of Angel Biomedical and Secures Major Contract
Published: Mar 18, 2013
From its site in Glasgow, comprising both Grade C and Grade B clean rooms, Collbio will focus on manufacturing medical grade collagen components for the regenerative medicine, in-vitro diagnostics and medical device markets.
Stewart White, who becomes CEO of the new company, commented “The growing requirement for collagen worldwide as an established biomaterial across a wide range of therapeutic and diagnostic applications presents exciting opportunities for Collbio Limited. We have already secured our first major contract in the form of a supply agreement with US-based Cardium Therapeutics for the manufacture of formulated collagen for Cardium’s FDA cleared Excellagen® product.”
Alex Clarkson, principal at Diagnostic Capital agreed: “The underlying strength of the collagen business in particular led to our involvement. With the new set-up and financing in place we believe the business is extremely well placed to become a lead provider for customers in both established and growing markets.”
No financial details were disclosed.