- Mercia Technologies said it invested £2.5m as part of a £3.8m funding round in Medherant, a University of Warwick spin-out company developing trans-dermal drug delivery patch technology.

The group's direct equity shareholding in Medherant had now risen from 11.3% to 32.4%.

"This new funding will support Medherant as it moves into clinical development and the commercialisation of its ibuprofen TEPI Patch, as well as initiating development of its second product, a lidocaine TEPI Patch," Mercia said.

At 9:26am: [LON:MERC] Mercia Technologies Plc share price was +1.13p at 37p

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