08:00 Thu 14 May 2020
Mercia Asset Mgt PLC - Medherant partners with Cycle Pharmaceuticals
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("Mercia" the "Company" or the "Group")
Medherant partners with
Under the terms of the partnership, Medherant will receive an initial upfront licence payment with an additional upfront payment for each candidate drug targeted. Medherant will also receive royalty payments on future sales of the products developed under the partnership, using the TEPI® Patch platform.
Work will commence immediately on the first two products, which will be reformulations of medicines used to treat rare neurological disorders, an area where improvements in ease of use are vital for compliance and quality of life. Some of the benefits of the TEPI® Patch technology include less frequent drug administration, reduced side effects and improved patient compliance. Following TEPI Patch® formulation development by Medherant, Cycle will be responsible for clinical development and registration, and will commercialise the products arising from this collaboration.
About Medherant and Mercia's investment
Medherant is a
Dr
"The collaboration with Cycle is an important development for Medherant and one which could ultimately help improve the lives of many patients suffering with rare neurological disorders. This is a great example of how Medherant's innovative technology for the administering of medicines can create significant benefit for end-users. We are pleased to have supported Medherant for a number of years and look forward to them building on this success."
Ends
For further information, please contact:
Mark Payton, Chief Executive Officer
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+44 (0)330 223 1430
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+44 (0)20 7523 8000 |
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N+1 Singer (Joint Broker) |
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+44 (0)20 7496 3000 |
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FTI Consulting |
+44 (0)20 3727 1051 |
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About
Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital: the Group's 'Complete Capital Solution'. The Group initially nurtures businesses via its third-party funds under management, then over time Mercia can provide further funding to the most promising companies, by deploying direct investment follow-on capital from its own balance sheet.
The Group has a strong
About
Cycle is headquartered in
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