imphatec closes oversubscribed £1.5M seed round led by SynBioVen
This week, imphatec Ltd. has announced the close of an oversubscribed £1.5M seed round led by SynBioVen, with further participation from angel investors. imphatec is a British synthetic biology pharmaceutical company developing the first customisable-dose subcutaneous implant platform to treat chronic conditions.
Millions of patients with chronic and long-term conditions depend on daily medication that must be taken manually. The World Health Organization estimates that around half of such patients experience non-compliance with their medication, where missed or irregular doses can have serious health consequences. Furthermore, even when medication is taken as directed, current drug-delivery methods mean only a fraction of each dose is distributed effectively within the body.
imphatec’s platform addresses these serious issues. The implants release medication into the patient long-term, with no patient input or compliance required, while the novel route of drug-delivery improves the effective distribution of the medication within the body. Moreover, the medication dose released from the implants can be personalised to that required by the individual patient. The device, being a platform rather than a single product, means the technology can be applied to a range of established medications for chronic conditions. The company’s aim is a ‘pill free future’ for the millions of patients burdened by manual daily medication.
Dr Hassan O. J. Morad, Co-founder and CSO of imphatec, said:
The investment in this round, led by SynBioVen, will drive the next key development stages of our implant platform to treat chronic and long-term conditions. Our implants have previously progressed with success through pre-clinical experimental stages, and this investment will allow us to advance further along the experimental pipeline towards the clinic. SynBioVen brings a wealth of scientific expertise that will allow us to navigate through the upcoming stages of development as we look to modernise and improve options for patients suffering with chronic and long-term conditions.
Prof Richard Kitney OBE, SynBioVen, said:
The successful completion of imphatec’s seed round is an important step in the company’s development. The implant technology that they are developing has important implications for the daily treatment of hypothyroidism – removing the need for patients to take daily medication for the condition. imphatec’s implant technology has the ability to provide patients with automatic uniform dosage. The new investment will allow the company to proceed with the development of its technology towards full human clinical trials. It is anticipated in the future the core technology can be modified for a wider range of clinical conditions to remove the need for treatment requiring treatment daily pill usage.