Glasgow, UK, 4th December 2008: Biopta Ltd, the human tissue-based contract research organisation, today announced that it had completed a £900,000 funding round from both new and existing investors. 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, including the appointment of a Head of R&D who will lead the development of Biopta’s new range of human tissue based services. Claire Jenkins, Sales Director at Biopta said ”currently we are only scratching the surface of the human tissue research market and this investment will let us meet the demands of new and existing clients. As the only European human tissue based company with GLP (Good Laboratory Practice) accreditation we have a lead in the market”.
Investment in this round includes funding from Braveheart Investment Group and Scottish Enterprise’s Scottish Co-Investment Fund – both of which have
previously invested in Biopta. Significant new investors have also come on board including Borders-based angel group, TriCap and private individuals. Elaine Ferguson, Finance Director at Biopta said ‘‘this investment is a great vote of confidence from both existing investors and new investors who recognise that Biopta has developed a strong brand as experts in human tissue research in an emerging market”
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.