MFM funding helps patch up Warwickshire medtech

SPECIALIST investor Mercia Fund Management has completed a follow-on investment into a medtech spin-out from the University of Warwick.

Henley-in-Arden-based MFM, a wholly-owned subsidiary of Mercia Technologies, has committed fresh capital to Medherant, which is developing an innovative patch technology that can deliver drugs through direct contact with the skin.

MFM said Medherant’s patch, known as the TEPI-patch, is a thin, strong, easy-to-apply and easy-to-remove patch capable of delivering higher doses of drugs directly to the areas where they are needed. The therapy is delivered by the patch over a period of one to 12 hours or more, depending on the patient’s requirements and the drug being administered.

The technology, which is initially being developed for Ibuprofen and Methyl Salicylate (used in topical pain relief), is capable of working with a wide range of products, including drugs that have failed clinical trials because of their unsuitability for oral consumption.

The patches have the advantage of being easy to manufacture because, unlike other patch technologies, the process does not involve the use of any solvents. They also use less material, so the technology has the potential to reduce costs, both to supplier and customer.

The investment, which totals £250,000 from both Mercia’s third-party University Growth Fund and Growth Fund 4, will allow Medherant to capitalise on high levels of interest in its technology. The investment will also be used to enable the company to continue product development.

Since Mercia’s first investment last June 2015, the company has secured an exclusive deal with Bostik SA, a leading adhesive specialist, to use a novel pressure sensitive adhesive material in the development of the patch.  

Medherant has also moved to new laboratories, and has validated that its technology works successfully on drugs that were previously not suitable for transdermal delivery.

During this time, Medherant has worked closely with Mercia’s Head of Technology Transfer, Dr. Nicola Broughton, who said: “It is wonderful to see Medherant achieve such impressive results, whilst still being at a relatively early stage in its development.   

Medherant is testament to the potential that lies within the Midlands in Life Sciences & Bio-Sciences, and I look forward to the continued relationship with the team.”

Nigel Davis, CEO of Medherant, said the firm had benefited from commercial and media interest in its product.

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