A startup that has developed a hormone patch for women with menopause symptoms has raised £3m to begin clinical trials.
Founded as a spinout from the University of Warwick, Medherant has created an alternative method to provide testosterone to women going through menopause.
Menopausal women produce smaller quantities of testosterone. Medical bodies, including the National Institute for Health and Care Excellence, recommend testosterone supplements as a way to recover from a menopause-linked loss of sex drive.
However, Medherant points out that there are no products in this category designed for women that have been approved in the UK.
“The lack of a testosterone patch represents a clear gap in provision for post-menopausal women that clearly restricts their options,” said Dr Mark Payton, CEO of Mercia, the asset manager that led the investment in Medherant.
“Medherant aims to fill that gap and is one of a number of businesses we have backed developing medical products specifically for women.”
The health tech firm is looking to begin clinical trials this year, with the goal of receiving regulatory approval in the UK.
“This funding will enable the company to initiate its clinical trial programme to help bring it to market,” Payton added. “Ultimately the patch could become widely available and help millions of women worldwide to lead happier, more fulfilling lives.”
Mercia previously backed Medherant in its £1.5m funding round back in 2016.