Business
Further Investment in Biopta
Further Investment in Biopta.
About this update from Truetide Plc
[{"type":"text","content":"\n RNS Number : 1238V Braveheart Investment Group plc 28 October 2010 \n \n\n28 October 2010 \n \n \n \nBraveheart Investment Group plc\nFurther Investment in Biopta Ltd\n \nBraveheart (AIM: BRH), the technology commercialisation and investment management company, today announces that it has led a further funding round into Biopta Ltd ('Biopta' or 'the Company'). The c£270,000 package comprised funds from Braveheart clients, TRI Cap and Scottish Enterprise's Scottish Co-investment Fund.\n \nBiopta was formed as a spin-out from Glasgow Caledonian University in 2002. The Company operates as a niche Contract Research Organisation (CRO) and has established itself as a world leader in the use of human tissues to better predict drug safety and efficacy prior to clinical trials. Biopta's clients within the pharmaceutical and biotechnology industry include eight of the top ten major pharma companies. Braveheart first invested in Biopta in 2004, and has since participated in two further equity rounds. Since the last round in 2008 the Company has delivered a programme of development, adding three further lines of business, and further building on its service offering with the launch of a tissue supply service, 'TissueConnections', in January 2010.\n \nBiopta's services address the urgent need of the pharmaceutical industry to improve the productivity of its R&D, with nine out of ten drugs currently failing during clinical trials. This failure has been largely attributed to an over-reliance on animal models; Biopta's business model is to offer laboratory testing services using fresh human tissues that are ethically-donated by patients undergoing surgery. The tests provide the closest possible prediction of safety and effectiveness of potential new drugs, before they are given to patients.\n \nFunds raised will be used to expand and market the TissueConnection service globally, to increase direct marketing activity, and to launch further new lines of business.\n \nCommenting, Geoffrey Thomson, Braveheart Chief Executive said: \"Biopta is now recognised as an established brand in human tissue testing and we are pleased to support the Company in its continued development.\"\n \nDavid Bunton, CEO of Biopta added, \"There are two main factors driving Biopta's growth: first, the trend ...