Glide Pharma raises £14m for scale up of manufacturing processes

For proprietary Glide-SDI solid dose injector system

Glide Pharma, a UK-based pharmaceutical development and device company focused on the needle-free administration of solid dose formulations, has completed a £14m (US$21.4m) investment round. The fundraising was led by Invesco Perpetual and supported by existing investors. To date, Glide Pharma has successfully completed five funding rounds raising approximately £24.9m.

The Milton Park, Abingdon-based firm will use the money to scale up the manufacturing process for its proprietary Glide SDI solid dose injector system, including the drug product and device. This includes the validation of an aseptic pilot-scale production line for clinical testing, and scale up for the manufacture of device components.

The company will also use the funds to progress the development of its in-house programmes, which include epinephrine and parathyroid hormone.

‘I am delighted to welcome Invesco Perpetual to Glide Pharma as an important new investor in this transformational fundraising. This substantial investment round clearly demonstrates the confidence our shareholders have in our innovative technology, and its potential to revolutionise the delivery of therapeutics and vaccines,’ said Mark Kirby, Glide Pharma's Chairman.

‘This fundraising follows recognition of Glide's novel technology by the UK’s Biomedical Catalyst scheme, which awarded the company £2.3m funding for the development of a novel formulation of teriparatide (parathyroid hormone) for the treatment of osteoporosis.’