BDD wins £2 million investment to expand early phase clinical trials
20 Aug 2023
Clinical trials company BDD has secured a further round of investment for £2 million to aid expansion of its patented drug delivery technology and specialist clinical trial services.
Existing investors included angel syndicate Archangels, Scottish Enterprise, together with new backer British Business Bank.
BDD said it would be able to deliver Phase I First in Human trials of novel medicines, enabling comprehensive and phase appropriate development and clinical testing to bring innovative medicines more quickly to market.
CEO of BDD Pharma Dr Carol Thomson 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.
“This investment allows us to further expand on these services, enabling our clients to fast-track their drug product development.”
The company recently announced it had more than doubled revenues last year, and secured contracts with major pharma and biopharmaceutical companies for 2023 and 2024.