Further Investment in Biopta

RNS Number : 1238V

Braveheart Investment Group plc

28 October 2010

 



28 October 2010

Braveheart Investment Group plc

Further Investment in Biopta Ltd

Braveheart (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.

Biopta 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.

Biopta'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.

Funds 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.

Commenting, 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."

David Bunton, CEO of Biopta added, "There are two main factors driving Biopta's growth: first, the trend towards outsourced R&D in the pharmaceutical industry and second, the increasing recognition that drugs developed for humans need to be tested in human tissues."

Rob Dick, chairman of TRI Cap, also commented: "Our members first invested in Biopta in 2008 and we are pleased to continue that association as the company expands its range of activities."

For further information please visit www.braveheartinvestmentgroup.co.ukor www.biopta.com or contact:

Braveheart Investment Group	Tavistock Communications (for Braveheart)
Geoffrey Thomson, Chief Executive	Simon Hudson/ James Midmer
Tel: [phone]	Tel: [phone]
[e-mail]	[e-mail] [e-mail]
Biopta Ltd	Seymour Pierce (for Braveheart)
Dr David Bunton, CEO	John Cowie / Freddy Crossley / Jeremy Stephenson
Tel: [phone]	Tel: [phone]
[e-mail]	[e-mail] [e-mail]

Notes to Editors

Braveheart Investment Group is an investment management and technology commercialisation and company headquartered in Perth, Scotland. It was founded in 1997 by a small group of investors in order to encourage and syndicate investments in privately held companies that offered opportunities for significant growth. Fourteen years on, Braveheart is a public company with offices in Perth, London and Yorkshire, and a demonstrable track record in early stage technology investing as well as an established client base of high net worth individuals. Service offerings include bespoke EIS portfolios, fund management, investment facilitation and management services.

Investments are made in young, emerging, unlisted companies where there is potential for significant growth through successful commercialisation of IP. Through close relationships with a number of leading universities and innovation centres Braveheart has access to a wide variety of emerging commercial opportunities at early stages. There are currently around 45 companies in Braveheart's diverse portfolio (includes all companies where the Group has a financial interest) and it has completed over 90 deals in its 14 year history.

On 6 October 2010 Braveheart announced the formal completion of its acquisition of Envestors Ltd, the London-based specialist corporate finance advisory business. The acquisition creates an enlarged entity that will offer a unique and comprehensive suite of tax efficient products to offer high net worth investors and gives the Group greater geographical reach.  

Biopta Ltd

Based in Glasgow, Biopta has been providing contract research services to the pharmaceutical industry since being founded in 2002 by Dr David Bunton and Prof Chris Hillier. It has established itself as a world leader in the use of fresh human tissues to better predict drug activity prior to clinical trials.

Biopta's services include tests using its proprietary PM-1 instrument, which was developed using technology spun-out from the Department of Biological and Biomedical Sciences at Glasgow Caledonian University. The patented technology allows automated analysis of the behaviour of living tissues as they respond to test drugs and was developed in collaboration with Wideblue Ltd in Dumbarton.

Biopta's services span most therapeutic areas and its pharmaceutical clients are primarily outwith the UK in mainland Europe, North America and increasingly, Japan. In 2008, Biopta won the Glasgow Business Award for International Business in recognition of its high percentage of overseas business.

Biopta has been active in calling for greater access for all researchers to human tissues generated during surgery, which represent a valuable resource for medical research but are typically incinerated. A recent debate in Westminster led by Jo Swinson, MP for East Dunbartonshire, called for a coordinated system to increase access to human tissues, including an opportunity for every patient undergoing surgery to provide consent should they wish to donate tissues to medical research.

 Link to debate on access to human tissues: http://www.publications.parliament.uk/pa/cm201011/cmhansrd/cm100623/halltext/100623h0001.htm#10062332000001

 

END

 

 

MSCKKODDABDDDKB