Based out of Glasgow, BDD, an integrated drug formulation and clinical trials company, has secured an additional £2 million in funding. The round was led by existing investors, including angel syndicate Archangels (which backed Cytomos and Bioliberty), Scottish Enterprise, and new investor British Business Bank.
Early phase clinical trials
The investment will help in BDD’s expansion to meet the growing demand for both its patented drug delivery technology and specialist clinical trial services. This investment will enable the company 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.
Furthermore, the company will now be able 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.
The funding follows a strong 18 months for the company, which more than doubled revenues in 2022 and has already secured substantial contracts with major pharma and biopharmaceutical companies for 2023 and 2024.
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.”
Gamma scintigraphic imaging techniques
Led by CEO Dr. Carol Thomson, BDD was founded in 2000 is a world class drug delivery company. It has expertise in early phase clinical research for the pharmaceutical industry using gamma scintigraphic imaging techniques. Notably, 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.
Currently, BDD supports innovators across the globe and works with a range of clients from the biggest pharmaceutical companies to innovative biotech startups, with the common goal of bringing novel treatments to market more quickly.
Besides providing pharmaceutical companies with on-demand GMP manufacture and specialist clinical trial services, BDD also offers, in parallel, formulation development and clinical testing, through BDD SWIFT, which significantly reduces the time from product concept to clinical success. This is aligned with the UK Government’s recent “Life Sci for Growth” strategy, which includes £121 million for improving clinical trials to bring new medicines to patients faster.
BDD’s patented oral drug delivery technology, OralogiK™ enables the timed release of active pharmaceutical ingredients tailored to specific modified-release needs, including sustained, delayed, multiple pulse, and site-targeted release. It also supports the development of novel complex formulations and life cycle management opportunities.
