£2M backing from Archangels and SIB for UK drug delivery company BDD
Funding will enable BDD to scale up GMP manufacture of revolutionary time controlled “pill within a pill”
Archangels, the Edinburgh-based business angel syndicate, the Scottish Investment Bank, the investment arm of Scotland’s enterprise agencies, and Bio-Images Drug Delivery Limited (BDD) announce the completion of a £2m funding round designed to enable BDD to scale its business, focusing on its unique OralogiK precision timed drug delivery system.
The OralogiK timed release technology enables the oral delivery of single, multi-dose or combination drugs at pre-determined times between one and 12 hours after being swallowed by the patient. The performance of this unique drug delivery system has been validated in multiple clinical studies in humans and offers tremendous opportunities, including:
• night time dosing of a drug to be delivered pre-wakeup; • multi-phased delivery of one or more drugs (immediate and delayed) to allow once-a-day dosing or for pre-treatment by one drug before the delivery of a second; • delivery of drugs to specific regions of the digestive system (e.g. the colon)
Glasgow and Newhouse-based 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.
BDD is uniquely placed to provide clinical data to pharma companies that have licensed OralogiK, using its gamma scintigraphy imaging division (BDD Scintigraphy) that can be harnessed to deliver rapid clinical results.
Dr Carol Thomson, Chief Executive Officer of BDD, said: “OralogiK is a truly exciting technology that could transform the lives of many patients and this funding will accelerate its route to market. 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”
Sarah Hardy, Investment Director at Archangels, said: “We are confident that OralogiK could become a game changer for drugs that will be more effective with delayed or phased delivery. 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.”
Kerry Sharp, director of the Scottish Investment Bank, said: “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. 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.”
BDD has already secured contracts with numerous global pharmaceutical companies to develop and apply the OralogiK technology to new and existing drugs that may benefit from either delayed or phased delivery. The first product is expected to be launched in 2020. BDD will generate revenues from service fees, milestone payments and sales royalties. The intellectual property surrounding the OralogiK proprietary technology is protected by key patents in the major markets worldwide.
Examples of therapeutic areas that could benefit from OralogiK include:
• Cardiovascular – ensuring the delivery of anti-hypertensive drugs prewakeup when patients are at the highest risk of a coronary incident • Early morning pain and stiffness – delivering drugs that tackle these symptoms before they wake up, enabling the patient to wake free from pain and ready to start the day • Colon related diseases – using the unique timed-release capability to release drugs directly to the colon. • ADHD –Cingulate Therapeutics, Kansas City, KS USA has used BDD’s OralogiK technology to develop a unique trimodal release designed to deliver a rapid onset and last the entire active day while providing a controlled descent of plasma drug levels to optimise treatment.
Ends 20th March, 2018
Callum Spreng Tel: +44 (0)141 548 5191 Spreng Thomson Mob: +44 (0)7803 970103 Email: firstname.lastname@example.org Notes to Editors
Archangels Archangels is a prominent business angel syndicate which has been at the forefront of early stage investing in Scotland for more than a quarter of a century. Its members invest in, and mentor, promising start-up and early stage companies from Scotland’s vibrant technology and life sciences sectors. Originally formed in 1992 and based in Edinburgh, the syndicate now comprises over 80 investor members and leads investment of around £10m per year in early stage Scottish companies, including leverage from partners, the largest being the Scottish Investment Bank. Archangels is interested in Scottish technology companies that are looking for initial funding of £50,000 to £2m. In addition, Archangels is keen to welcome new investors to its syndicate.
SIB The Scottish Investment Bank (SIB) is the investment arm of Scotland’s main economic development agency, Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise. It manages a suite of coinvestment funds including the Scottish Co-investment Fund and the Scottish Venture Fund, which are partly funded by the European Regional Development Fund (ERDF), and the Renewable Energy Investment Fund on behalf of the Scottish Government. SIB is also an investor in Epidarex Capital’s life sciences fund and is a participant in the Scottish European Growth Co-Investment Programme funded by the Scottish Growth Scheme alongside the European Investment Fund. SIB provides a team of Financial Readiness specialists to help companies prepare for new investment and access appropriate finance. SIB’s activities support Scotland’s SME funding market to ensure businesses with growth and export potential have adequate access to growth capital.
BDD Bio-images Drug Delivery Ltd (BDD) is a privately-owned drug delivery company specialising in the development of modified and controlled release oral formulations. BDD’s OralogiK technology is a tablet-in-tablet drug delivery system providing timed release, sustained release and the opportunity for complex bi- and tri-phasic release of one or multiple drugs. The OralogiK technology is protected with granted patents in the US, EU and Japan. BDD has in house clinical trial capabilities for the conduct of gamma scintigraphic/pharmacokinetic studies in humans. For more information visit www.bddpharma.com.