Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) specialist Calculus Capital has invested in Collagen Solutions Plc (AIM: COS), a global provider of medical grade collagen formulations and components for use in regenerative medicine, medical devices and in-vitro diagnostics and research.
Calculus invested £1 million as part of an open offer of approximately £6.83 million (before expenses), alongside investors including the Board and management who collectively invested approximately £1 million as part of this round. The new round of investment will help accelerate growth and fund a new business strategy of proprietary product development.
Collagen’s products are used in a wide variety of applications including orthopaedics, cardiovascular, dental, plastic surgery, wound healing, neurology and urology. For example, the company’s ChondroMimetic scaffold is designed to stimulate the regeneration of both joint cartilage and the underlying bone, thereby delaying the need for joint replacement.
John Glencross, Chief Executive of Calculus Capital, said: “We are pleased to be supporting Collagen’s latest round of fundraising. The Company has made significant progress since our last investment, including strong growth in top line sales, the appointment of a new CEO and new commercial offices opened in Seoul, South Korea and Minneapolis, USA.
We recognise the high quality of the collagen products of Collagen Solutions, the opportunity to continue the growth trajectory and the potential of their pipeline of proprietary finished devices.”