ArrayPatch Completes Oversubscribed €3.2 Million Seed Financing to Advance Next-Generation Microneedle Therapeutics
CORK, Ireland, Nov 6 (Bernama-GLOBE NEWSWIRE) -- ArrayPatch Ltd (“ArrayPatch”), a biotech company developing innovative microneedle-based therapeutics, today announced the successful completion of the second close of its seed financing round, securing an additional €1.6 million, bringing the total raised to €3.2 million. The latest investment comes from impact-focused venture capital firm WakeUp Capital along with funds raised via Spark Venture Funding and Dr. Mark Ledwidge plus existing lead investor Lakeside Capital and DeepIE Ventures. The proceeds from the seed financing will be used to accelerate the development of programs leveraging its proprietary DerMap™ dissolving microneedle patch platform towards first-in-human studies, with an initial focus on GLP-DerMap™ for the treatment of obesity and diabetes, and VIS-DerMap™ for the treatment of basal cell carcinoma. DerMap™ is the only microneedle patch delivery technology whereby the microneedles are made entirely from the me...