Fe3 Medical, a San Antonio, Texas-based developer of a transdermal patch that delivers iron across the skin for patients suffering from iron-deficiency anemia, closed an $11m Series B financing.
Backers included Jianmin Pharmaceuticals, HG Capital and PingAn Ventures and existing investor InCube Ventures.
The company intends to use the funds for clinical trials and regulatory submissions required to obtain CE Mark and FDA approval for the transdermal patch.
Led by Mark Sieczkarek, CEO, and Phil Morgan, President, Fe3 has developed a novel transdermal patch for the treatment of iron-deficiency anemia. The patch offers an alternative to oral iron for the nearly half of patients who cannot tolerate gastrointestinal side effects of iron pills such as constipation, diarrhea, nausea and bloating.
The company is a spin out of InCube Labs, a San Jose and San Antonio multi-disciplinary life sciences R&D lab focused on developing medical innovations.