Glide Technologies, an Oxford, UK-based pharmaceutical development and device company, completed a £3.2m ($4.0m) funding round.
Existing investors Invesco Perpetual, Oxford Technology Venture Capital Trusts, Oxford Capital Partners and Hygea VCT participated in the round.
Led by James Otter, Interim CEO, Glide Technologies is a pharmaceutical development and device company focused on the needle-free administration of solid dose formulation of therapeutics and vaccines.
The company’s products are based on its proprietary needle-free injector, the Glide SDI®. Its pipeline includes octreotide, teriparatide, exenatide and anthrax and influenza vaccines.
The company will use the funds to complete Phase I clinical trials of its novel solid dose formulation of teriparatide (parathyroid hormone) during 2017. Teriparatide is approved for use in the treatment of osteoporosis and accounts for global sales of over $1.3 billion.