Shepherd and Wedderburn act for Collagen Solutions plc in fundraise
The corporate team at leading UK law firm, Shepherd and Wedderburn, has once again acted for AIM listed client Collagen Solutions plc, this time in a £10.8m fundraise.
The deal comprised an equity fundraise of £6.8m via a placing and open offer, coupled with a £4m secured private bond facility provided by Luxembourg based healthcare investment trust, Norgine Ventures. The monies will assist Collagen with new product launches, product development, and working capital requirements.
This fundraise follows the reverse takeover and readmission on which the firm acted when Collagen acquired New Zealand-based Southern Lights Ventures in 2014, and its recent joint venture in China.
Collagen is a market leader in the development, manufacture, and supply of medical-grade collagen biomaterials for use in research, medical devices, and regenerative medicine. Their products are utilised in cutting edge medical treatments such as skin grafts, bone substitutes, artificial blood vessels and valves, and cancer research. The company is also a consortium partner in the European Commission’s Horizon 2020 program, where it is seeking to develop formulations of collagen for use in the delivery of treatments for Parkinson’s disease. It operates from bases in Glasgow, New Zealand, the United States, and Asia.
George Frier, partner at Shepherd and Wedderburn who led the team on this deal, said: “Having previously worked with Collagen, we were delighted to once again use our significant experience in Capital markets and Life Sciences to secure this strategically important funding for the company. Going forward, we look forward to assisting Collagen with its new product licensing and exciting growth plans.”