Edinburgh, Scotland-based BDD, an integrated company that specialises in drug formulation and clinical trials, announced on Wednesday that it has raised £2M (approximately €2.3M) in funding.
The funding came from existing investors, including the angel syndicate Archangels and Scottish Enterprise, and new investor the British Business Bank.
This investment will allow BDD to increase its clinical capacity and expand capabilities to offer the sector the ease and convenience of a single point of contact for early-phase formulation development and clinical evaluation.
In 2022, the company claims to have achieved over 100 per cent revenue growth and has already inked substantial contracts with major players in the pharmaceutical and biopharmaceutical sectors for 2023 and 2024.
The capital infusion will help the company to deliver Phase I First in Human trials of novel medicines, enabling comprehensive and phase-appropriate development and clinical testing to help clients to bring innovative medicines more quickly to market.
Dr Carol Thomson, CEO of BDD Pharma, says, “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,” adds Thomson.
BDD: Integrated drug formulation and clinical trials
Led by CEO Dr. Carol Thomson, BDD is a privately owned entity renowned globally for its drug development business.
The company delivers formulation development expertise, on-demand GMP (Good Manufacturing Practice) manufacturing, and specialised clinical trial services to pharmaceutical firms.
BDD offers simultaneous formulation development and clinical testing through its BDD SWIFT initiative, dramatically reducing the period from product conception to clinical success.
This capability is well aligned with the “Life Sci for Growth” strategy outlined by the UK Government, which includes £121M for improving clinical trials and accelerating the delivery of new medicines to patients.
At the core of BDD’s innovative offerings is its patented oral drug delivery technology – OralogiK. It enables the precise release of active pharmaceutical ingredients tailored to specific modified-release requirements.
OralogiK underpins the creation of novel complex formulations and opens avenues for lifecycle management strategies.
Since its inception in 2000, BDD has been at the forefront of early-phase clinical research for the pharmaceutical industry, employing advanced gamma scintigraphic imaging techniques.
Gamma scintigraphy is a medical imaging method employing minute amounts of radioactive materials and specialised cameras that generates images detailing the performance of drug products within the body.
Such scintigraphic data furnishes crucial insights for developing safer and more effective medications.
The Investor
Archangels is a leading business angel syndicate investing in early-stage Scottish life sciences and technology companies.
Archangels comprise around 120 members, and an eleven-strong board and executive team.
There are currently 21 companies within the portfolio.
Dr. Sarah Hardy at Archangel Investors says, “BDD is an excellent example of an ambitious and innovative Scottish life science company with global reach. Its patented timed-release technology, alongside world-class clinical trial services offering, created a compelling proposition for the pharma industry. Building on a successful 18 months after the challenges of the pandemic, the company is well poised to pursue its growth strategy. We’re excited by what the future holds for BDD and looking forward to supporting Carol and the team.”
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