Medherant has completed two Phase I clinical studies with its novel transdermal drug delivery technology, the TEPI Patch®. There is considerable interest in the transdermal delivery of drugs to overcome some of the disadvantages of oral administration, such as spikes in drug levels that can lead to side effects, and poor compliance. Patches are also a more convenient way to deliver drugs through the skin than gels and creams and provide better dose control.
The TEPI Patch® is a novel drug-in-adhesive transdermal patch that enables higher drug loading, so patches can be formulated to deliver drugs over a longer period and with a wider range of drugs. The adhesion is excellent, so the patch stays in contact with the skin throughout the dosing period to maximise drug delivery. Medherant has an exclusive worldwide licence to a novel, revolutionary, pressure sensitive adhesive developed by Bostik. The drug to be delivered is mixed with the adhesive.
Two Phase I studies have been successfully completed with Ibuprofen and four further products are at formulation development and/or optimisation stage. A £2.4 million syndicated investment round in 2019 including £2m additional invesment from Mercia Technologies, will enable Medherant to finalise the selection of three TEPI Patch® products to take into clinical development.
In May 2020, the company announced it has signed an agreement with Cycle Pharmaceuticals Ltd to develop and commercialize multiple products including formulations that will address patients’ unmet needs such as dysphagia and dyskinesia, further expanding its pipeline. Following TEPI Patch® formulation development by Medherant, Cycle will be responsible for clinical development and registration, and will commercialise the products arising from this collaboration.
The company’s business model is built around two sources of revenue. Firstly, it is developing its own pipeline of products to license for commercialization, and secondly, it will be developing products for partners leading to revenue from technology licences.
Since its establishment in 2015 Medherant has raised around £7 million in funding over several rounds, and most recently a Series A round of £2.4M.