EDINBURGH-BASED pharmaceutical firm, BDD, has secured £2m to fund growth of early part scientific trials.
The built-in drug formulation and scientific trials firm has secured the funding to help the corporate’s response to rising demand for each its patented drug supply expertise and specialist scientific trial providers.
The funding spherical was led by current buyers together with syndicate Archangels, Scottish Enterprise, and new investor British Enterprise Financial institution.
The most recent funding package deal follows a robust 18 months for the corporate, who greater than doubled revenues in 2022 and has already secured substantial contracts with main pharma and biopharmaceutical firms for 2023 and 2024.
This funding will enable the enterprise to extend its scientific capability and broaden capabilities to supply the sector the convenience and comfort of a single level of contact for early part formulation improvement and scientific analysis.
Particularly, the corporate will now be capable of ship Part I First in human trials of novel medicines.
This allows complete and part applicable improvement, and scientific testing to assist shoppers to carry progressive medicines extra shortly to market.
Based mostly within the UK, BDD is a privately owned, globally recognised drug improvement enterprise.
They supply pharmaceutical firms with formulation improvement experience, on demand GMP manufacture and specialist scientific trial providers.
The corporate additionally presents, in parallel, formulation improvement and scientific testing, by way of BDD SWIFT, which considerably reduces the time from product idea to scientific success.
This functionality is well-aligned with the UK Authorities’s current “Life Sci for Progress” technique which included £121m for bettering scientific trials to carry new medicines to sufferers sooner.
Led by CEO Dr Carol Thomson, BDD Pharma was established in 2000 and since then has offered experience in early part scientific analysis for the pharmaceutical business utilizing gamma scintigraphic imaging strategies.
Gamma scintigraphy is a medical imaging approach that makes use of small quantities of radioactive supplies and a particular digicam to create photos of precisely how a drug product performs within the physique.
Scintigraphic knowledge can present important data for the event of higher and safer medicines.
Dr Carol Thomson, CEO BDD Pharma, mentioned: “Increasingly more we’re speaking with firms who’re creating essentially the most thrilling ground-breaking new medicines, however their path to market is being hampered by historically sluggish and expensive improvement processes.
“We have now at all times prided ourselves in working collaboratively with our shoppers to supply part applicable improvement, manufacturing and scientific testing providers.
“This funding permits us to additional broaden on these providers, enabling our shoppers to fast-track their drug product improvement.”
Dr Sarah Hardy at Archangel Traders mentioned: “BDD is a wonderful instance of an formidable and progressive Scottish life science firm with world attain.
“Its patented timed-release expertise, alongside world-class scientific trial providers providing, created a compelling proposition for the pharma business.
“Constructing on a profitable 18 months after the challenges of the pandemic, the corporate is effectively poised to pursue its progress technique.
“We’re excited by what the longer term holds for BDD and looking out ahead to supporting Carol and the workforce.”