Glycomar Ltd has a proven track record in developing treatments for inflammatory diseases, in particular drugs in the fields of multiple sclerosis, ankylosing spondylitis and ophthalmic inflammation.Glycomar, which means "sweet sea", makes its products from a wide range of invertebrate animals, including starfish, shellfish, sponges and sea squirts. It has also started using seaweed and microalgal products.Highlands and Islands Enterprise (HIE). has taken a £125,000 equity investment in the business, which increases the agency's holding in Glycomar from 10.2 per cent to 16.9 per cent.
The impact of HIE's investment, which is matched by the other investors, should allow for long-lasting development of innovative products and processes. The investment will secure current jobs and lead to the creation of further research and development posts at Glycomar's Dunstaffnage premises.One of the current projects Glycomar is working on involves the development of high-value nutritional products from fish and shellfish waste.These products will enhance the technology of current fish-waste processing operations and establish a use for currently underutilised shellfish wastes.