Medherant secures £2.9m led by Mercia Asset Management to advance testosterone patch
The funding round will support the clinical development of the company's transdermal testosterone patch for post-menopausal women.
Share allotment filed at Companies House
Medherant is a clinical-stage pharmaceutical company developing transdermal drug delivery patches.
Medherant has secured £2.9m in a funding round led by Mercia Asset Management, with participation from Enate, SERG Technologies and Netacea. The clinical-stage company will direct the capital towards advancing its testosterone transdermal patch for post-menopausal women into clinical trials.
Based in the UK, the firm utilises its proprietary TEPI Patch technology to deliver drugs through the skin via an adhesive matrix. The latest financing marks a significant milestone for the business as it prepares to evaluate its flagship women's health product in human studies.
From the founder
"Having the funding in place for the first clinical trial of our testosterone patch for post-menopausal women will enable Medherant to take a major step towards registration of the product and being able to address this significant gap in the options available for women in this very important stage of their lives."
John Burt
CEO at Medherant
Use of funds
- 01Continue product development
