Collagen Solutions in £6m move for Southern Lights Ventures

A Scottish medical-grade collagen supplier has revealed a £6 million move to acquire a New Zealand-based rival.

Collagen Solutions of Glasgow established as a public company in January after Collbio Ltd acquired the assets of Collagen Solutions LLC and went through a simultaneous reverse takeover said the purchase of Southern Lights Ventures 2002 was a “logical strategic extension” to its business.

The deal to be part-funded through a £6m share issue announced yesterday came as Collagen Solutions recorded a pre-tax loss of £560,831 for the six months to September 30, an increase on the £62,631 loss of a year earlier.