Cash for Glide (From Oxford Mail)

Cash for Glide

11:00am Thursday 18th March 2010 in

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An award-winning biotech company which is developing a needle-free injection has received a major cash boost of £2.7m from investors, including the Oxford Technology venture capital trust.

Glide Pharma, based at Milton Park, near Didcot, has now completed four successful investment rounds, securing about £10m.

Glide will use the new funds to develop commercial manufacturing of its system that injects medicines in solid form into the skin, eliminating injuries and a phobia of needles.

Chief executive Dr Charles Potter (pictured right) said: “The completion of this oversubscribed fundraising is a clear demonstration of our investors’ confidence in the Glide technology and the advantages it can offer both patients and our partners in the pharmaceutical industry.

“Glide has made great progress recently, having achieved clinical proof-of-concept with our proprietary solid dose injection system, and extending our pipeline of programmes with pharmaceutical partners.”

Last September, Glide won the Best Medtech Dealmaker category at the Oxford Biotech Network BioScience Awards.