Angel Biotechnology’s first collagen contract will earn it £400k a year from Cardium

LIFE sciences minnow Angel Biotechnology yesterday unveiled the first contract for its collagen factory in Glasgow, just a week after buying the plant from sausage skin maker Devro.

New York-listed Cardium Therapeutics will pay Edinburgh-based Angel £400,000 during the first year of the contract to make an ingredient for a gel used to treat diabetic foot ulcers and other wounds.

Aim-quoted Angel bought the factory – which had been mothballed – for £200,000, allowing it to enter further markets for its products and services.

The company is already supplying Aim-quoted ReNeuron, which is using Glasgow’s southern general hospital to carry out the world’s first stem cell clinical trial, involving stroke patients, and is reopening a factory near Newcastle to cope with demand.

Stewart White, Angel’s acting chief executive, said: “We are excited by this new partnership with Cardium. We now look forward to continuing this important relationship.”

Angel will also help Cardium to apply for the “CE mark” for its gel, which would allow the product to be sold in the European Union and other countries that use the CE standard.