Coventry, UK-based University of Warwick spin-out Medherant has secured funding of £1.5 million to fuel further development of its novel drug patch delivery technology.
The drug delivery platform, known as the TEPI Patch, is designed to address many of the failings of previous transdermal drug delivery patches, with benefits including increased drug loading capabilities and a significantly expanded library of drugs available for patch delivery, the firm says.
The technology is initially being developed for use with the analgesics ibuprofen and methyl salicylate, but Medherant is currently seeking partners with which to develop transdermal delivery patches for a wide variety of further therapeutic applications.
Medherant says it will use the new funding, which includes a direct investment of £650,000 from fellow UK group Mercia Technologies, to advance preclinical studies of the TEPI Patch with a view to starting clinical studies in 2017.
