Japanese buyer for Glasgow spin-out
Drugs developer acquired in £5.5m deal
Drugs company Biopta has been acquired by Japanese firm Reprocell in a deal worth £5.5 million.
The spin-out from Glasgow Caledonian University is a specialist in using human tissue in the drug development process.
Testing drugs on human tissue is believed to give rise to more accurate results than animal testing.
Dr David Bunton Biopta’s chief executive, founded the company in 2002.
Biopta also has a laboratory in Maryland in the United States and contracts its research to the global pharmaceutical industry.
Investors in the firm included Braveheart Investment Group, Scottish Enterprise’s Scottish Co-investment Fund, and Tri Cap.
Yokohama based Reprocell said: “Biopta has a solid customer base, boasting successful dealings with eight of the top ten ‘big pharma’ companies in terms of sales.
“The company also manages a number of collaborative service development projects via its pharmaceutical industry and academic partners, with a strong focus on precision medicine, where the use of human tissues is of high importance.
“This will allow our company to increase our market share by expanding our line-up of drug discovery support products aimed at pharmaceutical manufacturers, as well as enabling us to better grasp the latest needs and trends in the field of drug discovery.”