Port Talbot firm secures equity investment to scale cosmetic aftercare product

Daniel Bevan - Editor

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Corryn Biotechnologies has secured £500,000 in equity investment to accelerate the commercialisation of its cosmetic aftercare technology in the UK and US.

The Port Talbot-based business raised the funding in a round led by Development Bank of Wales, with backing from the Wales Technology Seed Fund II and the Wales Angel Co-Investment Fund, alongside a syndicate of 11 angel investors from the UK, US and Brazil, and SFC Capital.

The latest injection follows an earlier investment in March 2024.

The company, which operates from the Bay Technology Centre in Port Talbot, plans to use the funding to scale manufacturing, expand its workforce and build commercial traction in its core markets.

It expects to create nine new jobs in Wales over the coming years, including two in the near future and a further seven skilled roles as production increases.

Corryn has developed a handheld device capable of producing ultra-fine polymer fibres directly onto the skin, forming a breathable, conforming layer that can deliver beneficial additives.

The technology is currently progressing through regulatory approvals ahead of an initial commercial launch in the UK and US, with further international expansion planned from 2027.

While its operations are anchored in Wales, the company is building a presence in the US, where one of its co-founders is based.

Luke Burke, co-founder and Chief Executive, said said: “Having the Development Bank of Wales backing us from an early stage has been hugely important in helping us reach this point.

“This investment gives us the runway to commercialise and scale in the UK and US, while keeping our manufacturing and job creation firmly rooted here in Port Talbot.

“We’ve already built clean room capability in South Wales, and we’re now focused on growing the team and scaling production as we take the product to market.”

Tom Davies said: “Corryn is a standout example of a Wales-based business developing real strength in research, product development, and manufacturing.

“Our early-stage investment in March 2024 enabled the team to advance its product pipeline, and this follow-on funding supports the next phase: commercialisation and scale-up.

“It also highlights how the Technology Seed Fund can work effectively alongside the Wales Angel Co-investment Fund, providing vital early-stage capital and leveraging support from angel investors.”

Lead Angel Investor, Adrian de Courcey, said: “Corryn has developed a compelling product and a clear commercial plan for scaling in the UK and US.

“The combination of a growing market opportunity, strong execution focus, and an established base in Wales made this an attractive investment.

“I’m pleased to be leading a syndicate of angels to support the team as they commercialise and scale.”

The Wales Technology Seed Fund II, a £20 million fund, provides equity investments of between £100,000 and £350,000 to Welsh technology businesses at proof-of-concept stage, while the £11 million Wales Angel Co-Investment Fund offers similar levels of funding to investor syndicates backing SMEs in Wales.