Catapult has led a £1.2m investment round into BioFilm Holdings, a developer and manufacturer of thin dissolving film-based products located near Glasgow, alongside existing investor Tate and Lyle Ventures.
Originally a subsidiary of Devro, BioFilm was the subject of a management buy-out in December 2007. Since this time, BioFilm has established a manufacturing and development facility, and concluded supply agreements for several significant customers.
The company is now said to be Europe’s leading producer of dissolvable thin film for use in the nutraceutical, cosmetics, woundcare, pharmaceuticals and medical professions.
This investment was the fifth new deal from the Catapult Growth Fund in 2011 and will support the company’s strategy of rapid further growth by expanding the product range and strengthening its technical and commercial capabilities.