GlycoMar secures £ 890,000 investment
Scottish marine biotechnology company GlycoMar Ltd has secured investment of £890,000 from new and existing investors. The investment is being used to progress the company’s anti-‐inflammatory drug development programme.
GlycoMar Limited was established in February 2005 and has its premises at the European Centre for Marine Biotechnology, near Oban, Scotland. GlycoMar, which means ‘sweet sea’, is dedicated to the discovery, development and commercialisation of new anti-‐inflammatory products based on the glycobiology of marine organisms.
The current investment will take GlycoMar’s novel psoriasis treatment through preclinical development. GlycoMar also has an Inflammatory Bowel Disease development programme, and has a fully natural cosmeceutical ingredient under development with grant support from the Technology Strategy Board.
In addition to the seed funding investors, Highlands & Islands Enterprise and Scottish Investment Bank have followed previous funding with an investment in the current funding round.