19 March 2026 – BGF, the UK and Ireland’s most active growth capital investor, has completed a £15 million investment in Seda Pharma Development Services Ltd (Seda), an integrated contract research, development and manufacturing organisation (CRDMO) headquartered in Cheadle, Greater Manchester.

Seda provides end-to-end pharmaceutical development services, supporting companies from early-stage drug development through the clinical phases to registration. Since receiving its MHRA manufacturer licence in February 2025, the business has transitioned from a contract research organisation (CRO) into a fully integrated CRDMO, combining scientific expertise with a growing manufacturing capability. The company has delivered more than 1,000 projects for 185 customers since inception, serving a growing international client base.

BGF’s investment comes at a time of sustained expansion in the global pharmaceutical outsourcing market, as biotech and pharmaceutical companies increasingly seek integrated partners capable of streamlining development timelines, reducing regulatory risk and supporting the manufacture of complex medicines. Demand for specialist development and manufacturing capability continues to rise, underpinned by growing R&D pipelines and increased regulatory scrutiny.

Since its founding in 2015 by Chief Scientist Dr Paul Dickinson and Chief Business Officer Dr Marcel de Matas MBE, Seda has established a strong reputation for scientific depth and technical excellence. Dr Paul Stott joined as Chief Executive Officer four years later, strengthening the leadership team as the company scaled its capabilities.

In 2023, Seda invested £8 million installing a manufacturing capability in a 50,000 sq. ft leasehold facility at Cheadle Royal Business Park. With BGF’s backing alongside new debt facilities from Santander, the business will acquire the freehold of the facility, securing long-term control of this strategically important manufacturing asset. The investment, alongside BGF’s value creation support, will also support international expansion, strengthen business development capability and fund further investment in manufacturing capacity and development capability, positioning Seda for its next phase of growth.

Dr Paul Stott, CEO at Seda, said: “BGF’s investment marks a pivotal moment in Seda’s growth. It unlocks additional capital to scale our integrated CRDMO platform and enhance our technical capabilities to meet client needs. Securing the freehold of our manufacturing facility gives us long term control and positions us well to expand into new markets and support the development of increasingly complex medicines.”

The deal was led by Harry Jones, Partner at BGF, supported by Emma Cassidy and Elle Swire from the Manchester office. Harry joins the board of Seda as Investment Director and Emma as Observer.

Harry Jones said: “Seda operates in a fast-growing, innovation-led market where integrated development and manufacturing capability is increasingly critical. The company has built a differentiated proposition underpinned by scientific depth, regulatory expertise and a loyal customer base. We are looking forward to working with Paul and the team to support their ambitious international growth plans.”

Advisers to the transaction were                                                                                                          BGF:                                                                                                                                                          Legal: Hill Dickinson                                                                                                                                  Commercial: PMSI                                                                                                                                    ESG: Holtara                                                                                                                                              Financial: Adam Sims                                                                                                                                Tax: Hurst                                                                                                                                                  Operational: Mike Frodsham                                                                                                                    Management: Catalysis Advisory

For shareholders:                                                                                                                                    Logros Advisory Partners                                                                                                                          Browne Jacobson                                                                                                                                      Claritas