Biopta, a Scottish drug development company spun out of Glasgow Caledonian University (GCU), has been acquired by a Japanese group for about £5.5 million. TRI Cap Biopta investors have so far shared £153K with more to come.
Tri Cap Chairman Rob Dick says, “We should remind ourselves such receipts are tax free.”
Biopta, which employs 18 people and is led by chief executive and co-founder David Bunton, uses human tissue in pre-clinical studies for major pharmaceutical companies in Europe, Japan and North America. Investors in the firm, founded in 2002, included Braveheart Investment Group, Tri Cap and Scottish Enterprise’s Scottish Co-investment Fund.
Yokohama-based Reprocell is a specialist in the development of stem cell technologies. David Bunton of Biopta says: “We see the acquisition as the natural next step in the growth of the UK and US businesses.”