Mercia invests £2.5m in Medherant

Mercia is a national investment group that focuses on the funding and scaling of innovative technology businesses based in the UK with high growth potential.

The £2.5m investment is part of a £3.8m funding round for the maker of transdermal drug patches. Medherant is a spinout from the University of Warwick.

Other private investors and existing shareholders also took part in the funding round. The money 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 patch.

Mercia increases its shareholding to 32.4% from 11.3% after it first invested in June 2015. 

Company
Medherant was founded by Professor David Haddleton and the University of Warwick in 2014 to develop and commercialise novel technologies for delivery of drugs. The company is based in the University of Warwick Science Park in Coventry.

People
Mercia Technologies – Mark Payton (CEO).
Medherant – Nigel Davis (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• UK / Ireland
• Healthcare
• Venture
• United Kingdom