The invention provides a novel composition and methods of its preparation and uses. The composition comprises as main components serum and a gelling agent and is useful in various medical applications. The composition may be used to coat a medical device, as a biological glue, or as dressings, membranes, scaffolding or hydrogel useful in bioengineering applications. One or more therapeutic products may be added to the composition and the composition is also a vehicle for delivery of therapeutic products.