Life sciences firm Collagen Solutions has been invited to take part in a scheme, funded by the European Union, aimed at meeting a “pressing” clinical need for cell-based tissue regeneration techniques.
The Glasgow-based company, which develops collagen components for use in regenerative medicine and medical devices, will receive about €500,000 (£425,000) of EU cash for the five-year Horizon 2020 project, which is expected to kick off early next year.
Mike Mitchell, analyst at house broker Panmure Gordon, said: “We consider this to be a further validation of the company’s core competencies in collagen-based biomaterials with application in advanced regenerative medicine therapies. Grant funding is an excellent source of monies for small, technology-focused businesses and Collagen Solution’s repeated success in this field is notable.”
Aim-quoted Collagen Solutions is already a partner on an existing €4 million Horizon 2020 programme tasked with developing collagen formulations for the treatment of Parkinson’s disease.
Chief executive Jamal Rushdy said: “Our selection as an industrial collaborator in a second Horizon 2020 project recognises the leadership position of Collagen Solutions in researching, developing and providing unique collagen-based biomaterials used in advanced regenerative medicine therapies. Our participation further enhances our scientific expertise in these areas, which also provides greater value to the development partners we serve.”