Starfish slime may seem an unlikely raw product for a high growth company, but while most new biotech companies have a long period of research and development before they are ready to market, the active component of this mucus is proving a secure income stream for GlycoMar Ltd.

Dr Charlie Bavington, managing director of GlycoMar explained: "As unprepossessing as this substance might sound, we collect it from the animals in order to extract the patented compounds it contains.

"The resulting product is then supplied under licence to Rhinopharma Ltd, a Canadian company that is developing drugs to combat respiratory diseases and allergies such as hay fever. It's not quite liquid gold, but having a quick and clear sales path has been crucial to GlycoMar's formation and early development."

GlycoMar Ltd is based at the European Centre for Marine Biotechnology (ECMB) near Oban, Argyll, which is a subsidiary of the Scottish Association for Marine Science. ECMB provided the initial capital and support for GlycoMar.

GlycoMar, which means 'sweet sea', was specifically formed in February of this year to exploit the potential of sugars derived from marine invertebrates. Such carbohydrates - which are common to all animals, and collectively studied within the field of glycobiology - are fundamental to how cells recognise each other and interact. They are known to play a central role in many diseases including cancer, inflammation and infection. GlycoMar's niche is perceived to be early stage drug discovery and replacement of a number of health products that are currently supplied from mammals.

The company received a business start-up grant of £4,500 and a development grant of £17,900 from Argyll and the Islands Enterprise (AIE). The local enterprise company also provided specialist business advice in relation to marketing and patents.

Lachie Beaton, business development manager at AIE, said: "GlycoMar has made excellent progress since starting the business in February this year. This is a great example of an innovative company that has turned its research into a commercial product in a relatively short period of time."

ECMB director, Professor Graham Shimmield, who sits on the Marine Technology Foresight Panel for Marine Biotechnology said: "The resources held in the oceans are truly amazing, but founding a viable business on them can be a very Darwinian process of the survival of the fittest. It is this centre's policy on the sustainable exploitation of marine environment, to help nurture well-considered ventures like GlycoMar. The proof to us of GlycoMar's potential has been the additional 'angel' funding that Dr Bavington has secured from the commercial sector."

Dr Bavington added: "Glycobiology products from marine invertebrate species offer a whole range of functional, financial and ethical advantages. Over the next few months we intend to extend our range and develop relationships with other pharmaceutical companies specialising in the anti-inflammatory sector."