Biopta Ltd closes £900,000 investment to grow its drug development services
Glasgow, UK, 1st December 2008: Biopta Ltd, the human tissue-based contract research organisation, has completed a £900,000 funding round from both new and existing investors. Investment comes from existing investors, Braveheart Investment Group and Scottish Enterprise, and three significant new investors including Borders-based business angel syndicate, TRI Cap and Glasgow Caledonian University.
Biopta is part of the rapidly growing move towards outsourced drug development and offers services using ethically donated residual human tissue from surgery as a test system for new pharmaceutical compounds. Dr David Bunton, chief operating officer and co-founder of Biopta said: “Because we use human tissues so rapidly after surgery, the information about drug safety and effectiveness that we generate is the closest possible alternative to a clinical trial.”
Biopta’s turnover has doubled in each of the past three years and is looking forward to more significant growth in the years ahead.
The investment will allow Biopta to greatly expand the range of services it offers and to grow its team of scientists: the appointment of Dr Sarah Lynagh - who was previously with Quintiles, Maccine and BTG International - to the post of head of R&D reflects Biopta’s growing reputation within the industry. Dr Lynagh will lead the development of Biopta’s new range of human tissue based services.
Robert Dick, chairman of TRI Cap, welcomed the opportunity for TRI Cap members to become involved with Biopta:
“Biopta is at the leading edge in its market and we believe has considerable potential. We are privileged at TRI Cap to continue to engage with some of the keenest minds in Scottish sciences and look forward to playing a part in nurturing the company’s further success.”
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4 DECEMBER 2008
About Biopta
Biopta, founded in 2002 as spin-out of Glasgow Caledonian University, is a unique early development in vitro CRO (contract research organisation), providing novel services in fresh ex vivo human tissues to global pharmaceutical and biotechnology companies.
Biopta’s services improve the predictability and efficiency of drug development by providing ’Good Laboratory Practice’-compliant safety and efficacy services in ethically-donated human tissues. These highly predictive assays bridge the gap between cell-based screening and animal in vivo studies by providing powerful human data much earlier in the development process. Biopta aims to reduce the risk of late stage drug failures and add value to early stage compounds.
For more information on Biopta, please visit www.biopta.com