Scottish developer of dissolving films for the global consumer and pharmaceutical markets secures funding to develop its US footprint.
The Scottish Loan Fund has committed £0.75 million of funding to BioFilm Holdings Limited, a leader in the development and manufacture of Thin Dissolving Films (TDFs), for use in over-the-counter (OTC) nutritional, pharmaceutical, and cosmetic products.
Blantyre based BioFilm was previously part of Devro plc developing edible thin films for the meat industry, before the management team led a buy-out of the business in 2007. In the years following the MBO BioFilm has shifted its focus and now principally operates within the consumer healthcare market.
BioFilm manufactures TDFs from low molecular polymers which dissolve when in contact with moisture and have been specifically formulated to carry a range of active ingredients. BioFilm is a fully integrated producer of TDFs and has the capacity to take innovative concepts from initial R&D, through manufacture and packaging, to final delivery to the end consumer. The company has successfully developed a number of new products and technologies and has a strong pipeline of opportunities.
The funding provided by the SLF will strengthen BioFilm’s sales function particularly in the US. The business already sells to a global client base, with customers in countries including the UK, US, Mexico, Poland and Australia, but with retail sales of $33 billion in 2013 the US OTC market provides considerable scope for future growth.
“The funding from the Scottish Loan Fund will enable us to invest in the future of the business and build upon the strong foundations and pipeline of opportunities that are in place. Having previously met the SLF team they have worked hard to understand our business and that has enabled them to commit to our future plans and ensure we have the capital and commercial support to succeed.” | Trevor Morgan, CEO of BioFilm