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Archangels and SIB provide GBP2m funding for BDD

Archangels, an Edinburgh-based business angel syndicate, and the Scottish Investment Bank, the investment arm of Scotland’s enterprise agencies, have completed a GBP2 million funding round for Bio-Images Drug Delivery Limited (BDD).

The company is looking to scale it business based around its OralogiK precision timed drug delivery system, which 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.
 
OralogiK’s performance has been validated in multiple clinical studies and BDD believes it 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; and delivery of drugs to specific regions of the digestive system (eg 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, says: “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, says: “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, says: “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.”

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