A UNIVERSITY of Glasgow spin-out behind pioneering technology to evaluate drug toxicity and improve patient safety has been boosted by a £2 million investment.

The funding for Clyde Biosciences is led by Epidarex Capital, a venture capital fund focused on early-stage life sciences firms, with backing also coming from the Scottish Investment Bank and Glasgow University Holdings. Epidarex is the largest investor in the syndicate, although the size of the stake it has taken in the company has not been disclosed.

The company said the investment will allow it to expand its seven-strong team, develop new services and move into new markets, including the US.

Clyde Biosciences is developing technology to test cardiotoxicity in new and existing drugs.

Its initial customers include several of the world's top 10 pharmaceutical companies.

While its initial focus is on cardiotoxicity risk, the company said its technology can be applied to other risk factors, giving it the potential to improve the safety profile of existing drugs and those which will become available to patients in the future.

Clyde Biosciences was founded by Dr Margaret Anne Craig, professor Godfrey Smith, Dr Francis Burton and professor Jon Cooper at the University of Glasgow in 2012, and spun out of the College of Medical Veterinary and Life Sciences.

The executive team is set to be strengthened with the arrival of Chris Wardhaugh, who most recently held a senior role with a major international contract research organisation.

Dr Craig, chief executive of Clyde Biosciences, said: "Since its inception, Clyde Biosciences has been working hard to meet our clients' needs in improving outcomes in drug development.

"This investment, led by Epidarex Capital, will help propel Clyde Biosciences to a new level, allowing us to strengthen our team, reinforce our commercial offering and broaden our geographical reach.

"We welcome the support of our investment partners and look forward to an exciting future."

Sinclair Dunlop, managing partner at Epidarex Capital, said: "Clyde Biosciences' unique technology is already improving the safety profile of drug candidates by both small and large pharmaceutical biotechnology companies. Clyde Biosciences' novel approach will benefit patients by improving the safety profile of new drugs coming on to the market. The company's early success is a great credit to its founders and to the world class research being conducted at the University of Glasgow."