Aggrade, a Camberley, United Kingdom-based specialist in formulating pharmaceutical drugs and nutraceutical products, raised €350k in a second funding round.
Backers included Italian investors such as Medeopart and Aldabra Capital.
The company intends to use the funds to conduct R&D activites and expand the business.
Co-founded in 2013 by Giovanni Politi and Vincenzo Politi, Aggrade has developed an innovative aerodynamic granulation technology for the formulation of pharmaceutical drugs and nutraceutical products. The company aims to offer tools for improving bioavailability of the existing oral drugs, through new and simplified formulation processes as well as to extend the platform of marketed drugs, including therapeutic agents entirely insoluble in water.
Aggrade recently signed a deal with Tavarnelle Val di Pesa, Florence, Italy-based nutraceutic company BioDue. Under the terms of the agreement, BioDue will build an industrial facility to produce dietary supplements through Aggrade’s system in exchange of royalties.