Biopta gains further funding
The drug research company gains further backing from Braveheart
Biopta Limited, the drug research company, has received a further £900,000 of investment.
The company has gained further backing from Braveheart, the AIM-listed technology commercialisation and investment company, as well as the Scottish Enterprise’s Scottish Co-investment Fund and TRICapital Limited. The company, which began life as a spin-out from Glasgow Caledonian University in 2002, provides niche contract research services to the pharmaceutical, biotechnology and research industries. Braveheart investors participated in the company’s first major funding round in November 2004 and subsequently in a further equity round in June 2006. “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,” said Elaine Ferguson, finance director at Biopta. Geoffrey Thomson, chief executive of Braveheart, added: “We are delighted to see further investment in Biopta and welcome TRICap investors on board as shareholders.” © Crimson Business Ltd. 2008