# Mercia invests £2.5million as part of £3.8million funding round in Medherant
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-12-14
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Mercia Technologies PLC Invests £2.5M in Medherant Limited
Meta Description: Mercia Technologies PLC invests £2.5 million in Medherant Limited, a University of Warwick spinout company with innovative transdermal drug delivery technology.
URL: https://financedigest.com/mercia-invests-2-5million-as-part-of-3-8million-funding-round-in-medheranthtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd141217-8-1736843148979-compressed.jpg)

Mercia Technologies PLC, the national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions, is pleased to announce that it has invested £2.5million as part of a £3.8million funding round in Medherant Limited, a University of Warwick spinout company developing an innovative transdermal drug delivery patch technology.

![Medherant TEPI Patch ](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd141217-5-300x200-1736843148936-compressed.jpg)

Medherant TEPI Patch

Mercia’s investment in this significant funding round is alongside both private investors and other current shareholders. The Group’s direct equity shareholding has now risen from 11.3% to 32.4%. This new funding will support Medherant as it moves into clinical development and the commercialisation of its ibuprofen TEPI Patch®, as well as initiating development of its second product, a lidocaine TEPI Patch®.

Medherant’s TEPI Patch® is a novel proprietary platform capable of delivering higher doses of drugs through the [skin to act locally or systemically](https://www.financedigest.com/global-skin-cooling-systems-market-2021-2028-to-register-substantial-global-expansion-by-2028.html "Global Skin Cooling Systems Market (2021-2028) To Register Substantial Global Expansion By 2028"). Transdermal delivery has many advantages, including fewer side effects, improved patient compliance and the [potential to deliver](https://www.financedigest.com/delivering-on-the-potential-of-open-finance.html "Delivering on the potential of open finance") drugs that are unsuitable for oral administration.

Since Mercia’s first investment in June 2015 through its managed funds, Medherant has secured an exclusive licence agreement with Bostik SA, a leading adhesive specialist, to use its novel [pressure sensitive](https://www.financedigest.com/pressure-sensitive-tapes-market-to-register-substantial-expansion-by-2019-2027.html "Pressure Sensitive Tapes Market to Register Substantial Expansion by 2019-2027") adhesive material in the development of the company’s TEPI Patch®.

**Nigel Davis, CEO of Medherant, said:** “We are grateful to have the continued [financial support of Mercia and pleased to be working closely](https://www.financedigest.com/fast-track-financial-close.html "FAST-TRACK FINANCIAL CLOSE") with the team as we move into the next exciting phase of Medherant’s development. Our TEPI Patch® technology is generating [global interest and we are now working with several leading pharmaceutical companies](https://www.financedigest.com/surgical-imaging-market-2021-global-leading-companies-analysis-revenue-trends-and-forecasts-2027.html "Surgical Imaging Market 2021 Global Leading Companies Analysis, Revenue, Trends and Forecasts 2027") as we develop our own product pipeline.”

**Mark Payton, Chief Executive Officer at Mercia, said:**“Medherant’s highly versatile platform is compatible with a wide range of drugs, enabling a transdermal route to [market for drugs not currently suitable for formulation with existing delivery](https://www.financedigest.com/innovation-to-trigger-the-injectable-drug-delivery-market.html "Innovation to trigger the Injectable Drug Delivery Market") technologies.The company’s first product, Ibuprofen TEPI Patch®, will be manufactured at AdhexPharma in France for clinical trials in early 2018. Led by Dr Nicola Broughton, Investment Director and Head of Universities at Mercia, we have been working with the founders since inception, initially through our managed funds and are now scaling the [business with a further direct investment](https://www.financedigest.com/japanese-businesses-pledge-uk-investment-ahead-of-sunak-meeting.html "Japanese businesses pledge UK investment ahead of Sunak meeting"). This has increased our equity holding in what potentially may become a very valuable business.”


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---