Integrated drug formulation and clinical trials company, BDD Clinical Trials, has secured a further round of investment for £2M to aid the company’s expansion in response to growing demand for both its patented drug delivery technology and specialist clinical trial services.
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 for 2023 and 2024. This investment will allow the business 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 now be able to deliver Phase I first-in-human trials of novel medicines, enabling comprehensive and phase appropriate development and clinical testing to help clients to bring innovative medicines more quickly to market.
Dr Carol Thomson, CEO BDD Pharma, 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. 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.”