New Zealand Coastal Seafoods (ASX:NZS) says its made considerable progress in recent months as it delves into the booming global nutraceutical market.

In the most recently completed quarter, the company successfully commercialised a new hydrolysed marine collagen powder.

The step follows development of a more efficient and cost-effective process for collagen extraction from ling maw, a large fleshy eel-like ocean fish found in NZ?s deep, cool waters.

The company?s share price is up 33% today.