BDD raises £2m from Archangels and British Business Bank to expand clinical trials
The funding will increase clinical capacity and support the delivery of Phase I trials for novel medicines.
BDD is an integrated drug formulation and clinical trials enterprise based in Glasgow. The company uses proprietary timed-release technology to support pharmaceutical development.
Glasgow-based BDD has secured £2m in funding to scale its early phase clinical trials and drug formulation operations. The round was backed by Archangels, Scottish Enterprise, and the British Business Bank.
The capital will be directed towards increasing clinical capacity and enabling the delivery of Phase I First in Human trials. This follows a period of commercial growth, which included doubling revenues in 2022 and securing contracts for the coming years.
Investor perspective
"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."
Sarah Hardy
Director and Head of New Investment, Archangels
Use of funds
- 01Expand into international markets
- 02Scale operations
