Pantec Biosolutions AG, a privately-owned company developing new methods for transdermal drug delivery, has announced the closing of a CHF 20 million (€14.7 Million) investment, with StemCell Holding AG, an Austrian investment company, acting as lead investor. No further terms were disclosed.
The money raised in this financing round will be used to drive the development of P.L.E.A.S.E. IVF, the company’s proprietary transdermal hormone patch product and its P.L.E.A.S.E. Painless Laser Epidermal System, for dermatology applications.
Christof Boehler, CEO of Pantec Biosolutions, said, “We are delighted that our new investor StemCell Holding has shown such a solid commitment to Pantec and our vision for the future of needle-free in vitro fertilisation treatment.”
Pantec’s patches use laser microporation technology to deliver large molecular weight drugs into the skin, for local or systemic uptake. The P.L.E.A.S.E. Painless Laser Epidermal System platform enables efficient, needle-free and painless administration of biopharmaceutical drugs, in varying and individualised dosages.
The technology is currently in clinical trials for the delivery of IVF hormone therapy, a market with an estimated value of $1.5–$2 billion.