Nemaura Pharma, a Loughborough, UK-based biotech company, raised up to £5m in funding.
Backers included unnamed private investors.
The company intends to use the funds to accelerate commercial research and development of clinical programs to prepare the drug-device combination for market.
Founded in 2005, Nemaura Pharma is a biotech company with headquarters and research facilities in the Advanced Technology Centre on the Loughborough University Science and Enterprise Park (LUSEP) in the United Kingdom. The company’s solid dose delivery device, the Micro-Patch™, works by depositing the drug under the outer layer of the skin using a metal needle which then retracts completely, minimizing the risk of stick injuries.
The solid dose delivery device, which has been designed for safe patient self-administration, has the potential to improve control over drug release and absorption, improve stability performance, and either partially or completely eliminate the cold storage requirements for vaccines and biologics.