Drug firm secures £2m to expand capabilities
Integrated drug formulation and clinical trials company, BDD has secured a further £2 million to aid the Edinburgh-based company’s expansion.
The funding round was led by existing investors including angel syndicate Archangels, Scottish Enterprise, and new investor British Business Bank.
The latest investment package 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.
The business will use the funds 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 conduct human trials of new medicines.
CEO Carol Thomson said: “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.”