EDINBURGH-BASED pharmaceutical company, BDD, has secured £2m to fund expansion of early phase clinical trials.
The integrated drug formulation and clinical trials company has secured the investment to aid the company’s response to growing demand for both its patented drug delivery technology and specialist clinical trial services.
The funding round was led by existing investors including syndicate Archangels, Scottish Enterprise, and new investor British Business Bank.
The latest investment package follows a strong 18 months for the company, who more than doubled revenues in 2022 and has already secured substantial contracts with major pharma and biopharmaceutical companies for 2023 and 2024.
This investment will allow the business 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.
Specifically, the company will now be able to deliver Phase I First in human trials of novel medicines.
This enables comprehensive and phase appropriate development, and clinical testing to help clients to bring innovative medicines more quickly to market.
Based in the UK, BDD is a privately owned, globally recognised drug development business.
They provide pharmaceutical companies with formulation development expertise, on demand GMP manufacture and specialist clinical trial services.
The company also offers, in parallel, formulation development and clinical testing, through BDD SWIFT, which significantly reduces the time from product concept to clinical success.
This capability is well-aligned with the UK Government’s recent “Life Sci for Growth” strategy which included £121m for improving clinical trials to bring new medicines to patients faster.
Led by CEO Dr Carol Thomson, BDD Pharma was established in 2000 and since then has provided expertise in early phase clinical research for the pharmaceutical industry using gamma scintigraphic imaging techniques.
Gamma scintigraphy is a medical imaging technique that uses small amounts of radioactive materials and a special camera to create pictures of exactly how a drug product performs in the body.
Scintigraphic data can provide vital information for the development of better and safer medications.
Dr Carol Thomson, CEO 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.
“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.”
