Pharma firm BDD nets seven-figure funding injection with British Business Bank joining fold as investor
The pharma business has secured the £2 million sum to aid its expansion in response to what it says is growing demand for both its patented drug delivery technology and specialist clinical trial services, with the funding round led by existing investors including Scottish syndicate Archangels and Scottish Enterprise with the BBB joining the fold.
BDD, which has bases in Glasgow and Chapelhall, said the investment will allow it to expand capabilities and increase its clinical capacity, specifically now able to deliver “Phase I First” in human trials of novel medicines to help clients ultimately bring such products to market more quickly.
The firm added that the latest funding injection follows it enjoying a strong 18 months, having more than doubled revenues in 2022, and having already secured substantial contracts with major pharma and biopharmaceutical companies for 2023 and 2024.
BDD, which was established in 2000, says it works with clients from innovative biotech start-ups to pharma giants, and deploys a medical imaging technique to create pictures of exactly how a drug product performs in the body. Its adds that its patented oral drug delivery technology OralogiK enables the timed release of active pharmaceutical ingredients tailored to specific modified-release needs, and supports the development of novel complex formulations and life cycle management opportunities.
Dr Carol Thomson, chief executive of BDD Pharma, said: “More and more we are talking with companies who are developing the most exciting ground-breaking new medicines, but their path to market is being hampered by traditionally slow and costly development processes. We have always prided ourselves in working collaboratively with our clients to provide phase appropriate development, manufacturing and clinical testing services. This investment allows us to further expand on these services, enabling our clients to fast-track their drug product development.”
Dr Sarah Hardy at Archangel Investors said: “BDD is an excellent example of an ambitious and innovative Scottish life science company with global reach. We’re excited by what the future holds for [it] – and looking forward to supporting Carol and the team.”
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