Funding for 'game changer'
Drugs pioneer BDD secures £2m to scale up
Its unique OralogiK technology controls the delivery of drugs after being swallowed by the patient. It has been validated in numerous clinical studies.
Funding from the Archangels syndicate and the Scottish Investment Bank, will be invested in new equipment and recruitment across BDD’s Glasgow and Newhouse sites.
Dr Carol Thomson (pictured), chief executive at BDD, said: “OralogiK is a truly exciting technology that could transform the lives of many patients and this funding will accelerate its route to market.
“More than that, by partnering with Archangels, BDD can access its network of sector experts and ensure that we can fully capitalise on the potential of OralogiK”
Sarah Hardy, investment director at Archangels, said: “We are confident that OralogiK could become a game changer for drugs that will be more effective with delayed or phased delivery.
“The BDD team is rightly excited about its potential and we believe that this unique precision delivery technology has the capability of being a global success story for patients and clinicians alike.”
Kerry Sharp, director of the Scottish Investment Bank, said: “Life sciences is a key sector for Scottish Enterprise and Scotland, and it’s great to see BDD raising the funds required to expand its business.
“We’ve supported the company through our financial readiness and account management approach and we look forward to continuing this to help deliver its growth plans.”
BDD has already secured contracts with numerous global pharmaceutical companies to develop and apply the OralogiK technology to new and existing drugs that may benefit from either delayed or phased delivery.
The first product is expected to be launched in 2020. BDD will generate revenues from service fees, milestone payments and sales royalties.
The intellectual property surrounding the OralogiK proprietary technology is protected by key patents in the major markets worldwide.
Examples of therapeutic areas that could benefit from OralogiK include:
- Cardiovascular – ensuring the delivery of anti-hypertensive drugs pre-wakeup when patients are at the highest risk of a coronary incident
- Early morning pain and stiffness – delivering drugs that tackle these symptoms before they wake up, enabling the patient to wake free from pain and ready to start the day
- Colon related diseases – using the unique timed-release capability to release drugs directly to the colon.