CARDIFF, Wales--(BUSINESS WIRE)--Jellagen® Limited, a marine biotechnology business manufacturing high value collagen derived from jellyfish, has entered into a license agreement for an exclusive grant to patent rights with Mayo Clinic for the development in treatment of vocal cord paralysis.
Vocal cord paralysis [VCP] is an injury to one or both recurrent laryngeal nerves (RLNs), which control most of the muscles of the larynx. This results in paralysis of the vocal cord muscles which can lead to airways obstruction, dyspnea, altered voice etc. VCP is caused by surgery side effects, trauma, tumors, etc. It is also frequent in the vocal cords of “heavy users” population such as singers, actors, politicians and teachers. The worldwide VCP market is estimated at $2.6B in 2020 with the bulk injection market segment accounting for 15% with 4% CAGR over the next five years, i.e $380M in 2020.
Thomas-Paul Descamps, Chief Executive Officer, commented, “We are very proud to have signed this agreement with Mayo Clinic and is testament to the excellent collaborative work and data generated by the team at Mayo Clinic. We look forward to the next phase of this project and building on our collaborative links with this highly regarded medical institution to further support new innovative research activities in the field of regenerative medicine.”
Mayo Clinic has a financial interest in Jellagen® Ltd. Licensing revenue received by Mayo Clinic will be distributed in accordance with the institutions' respective policies, and in support of continued research and innovation. The individual inventors named on the patent application, may also benefit financially from such revenue.
Jellagen Ltd is a marine biotechnology company manufacturing high value collagen derived from jellyfish. Founded in 2015 by Prof. Andrew Mearns Spragg, Jellagen’s strategic mission is to utilize sustainable marine species and natural resources in order to develop technical and scientific high value research and medical device products, meeting state of the art specifications. For more information, visit www.jellagen.co.uk.
About Mayo Clinic:
Mayo Clinic is a non-profit organization committed to clinical practice, education and research, providing expert, whole person care to everyone who needs healing. For more information, visit www.mayoclinic.org/about-mayoclinic or www.newsnetwork.mayoclinic.org.