Cork firm raises €1.6m for dissolving GLP1 patch

Financing will be used to accelerate the development of company's dissolving microneedle patch towards first-in-human studies, with initial focus on treatment of obesity and diabetes

Dr Waleed Faisal at the School of Pharmacy in UCC.

Cork biotech firm ArrayPatch has completed a second round of seed funding, securing an additional €1.6m.

It brings the total raised so far by the UCC spin-out to €3.2m. The latest investment comes from impact-focused venture capital firm WakeUp Capital, along with funds raised via Spark Venture Funding and Dr Mark Ledwidge, plus existing lead investor Lakeside Capital and DeepIE Ventures.