Uni of Warwick Spin-out Secures £3.8M

18 December 2017

A University of Warwick spin-out company which is developing transdermal drug delivery patch technology has secured £3.8m in a funding round led by specialist investor Mercia Technologies.

The cash will support Medherant as it moves into clinical development and the commercialisation of its ibuprofen TEPI Patch, as well as starting development of its second product, a lidocaine TEPI Patch.

Medherant's TEPI Patch is a proprietary platform capable of delivering higher doses of drugs through the skin to act locally or systemically.

Mercia provided £2.5m as part of the £3.8m funding round, taking its direct equity shareholding in the business to 32.4 per cent.

Read the full article here.

Source: www.insidermedia.com

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