A £2 million funding round has been completed that will enable drug delivery company, Bio-Images Drug Delivery (BDD) to scale up its business to allow GMP manufacture of its OralogiK precision timed drug delivery system — ‘pill within a pill’.
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The backing was provided by Archangels, the Edinburgh-based business angel syndicate, the Scottish Investment Bank and the investment arm of Scotland’s enterprise agencies. BDD will use the funding to purchase processing and analytical equipment for the large-scale GMP manufacture of OralogiK. This will allow BDD to develop its own timed-release products for improved patient outcomes. The funding also enables business expansion and recruitment across its two sites.
OralogiK is a timed-release technology that enables the oral delivery of single, multi-dose or combination drugs at pre-determined times between one and 12 hours after it has been swallowed by the patient.
“OralogiK is a truly exciting technology that could transform the lives of many patients and this funding will accelerate its route to market,” said Dr Carol Thomson, chief executive officer of BDD. “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.”
“We are confident that OralogiK could become a game changer for drugs that will be more effective with delayed or phased delivery,” added Sarah Hardy, investment director at Archangels. “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.”
“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,” commented Kerry Sharp, director of the Scottish Investment Bank. “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.”