February 23, 2011 -- Glasgow-based business Bio-Images Research has secured £350,000 of funding from Clydesdale Bank to assist its planned expansion in Europe and south-east Asia.
The business, based at the city’s Royal Infirmary, enables medical scientists to use imaging techniques in tracing the effectiveness of drugs within the human body. Early phase clinical studies are carried out on volunteers and patient groups.
Founded in 2000 by Professors Howard Stevens and Clive Wilson, both of whom were senior academics in the University of Strathclyde’s Pharmacy Department, Bio Images Research has an established customer base within the global pharmaceutical industry in North America, Europe and Japan. It is acknowledged within its sector as a leading player in the field of gamma scintigraphy imaging, which it describes as ‘allowing non-invasive visualisation of drug formulations and body systems’.
Ian Stillie, Finance Director, said: “Since 2008, we have been looking for ways to widen our scope of operations and to use our expertise to access other industries such as the health, food and cosmetic sectors. We believe this is best done on a global basis and we are addressing opportunities internationally, particularly in the emerging markets of India, China and other parts of south-east Asia where we are about to establish a wholly-owned commercial presence in Singapore.
“In addition, we will be harnessing the new investment funds to underwrite our expansion programme which includes the winning of a major research contract worth £1.5 million and the further development of our drug formulation business, Drugs Delivery International Limited, which will allow us, in turn, to secure a further contract with a large Asian pharmaceutical company.”
Scott Wilson, Business Development Partner at Clydesdale Bank said: “Bio Images Research is a successful business which we are pleased to assist in its aim of expanding internationally. Clydesdale Bank is very much open for business and keen to support quality companies with the potential to secure profitable growth, including those which are looking to expand into key emerging markets such as India and China.”
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