Liechtenstein-based Pantec is developing two proprietary transdermal patch candidates in combination with its painless laser epidermal system (PLEASE) for IVF. The investment will, in part, be used to develop these products up to market approval.
Christof Boehler, CEO of Pantec, said: “This financing will allow us to move ahead with the clinical development of the PLEASE IVF platform and visualise our goal of reaching market approval in Europe.”
Pantec will use the remainder of the investment to fund the market launch of the PLEASE Professional product line for dermatology applications. PLEASE Professional is a larger, benchtop device for drug delivery applications in doctor’s practises or clinics.
The CEO of StemCell Holding AG, the lead investor, said: “Pantec’s unique technology platform, combined with a strong know-how in laser technology and drug delivery, makes the company a unique and exciting enterprise with a vast potential for success.”
Using PLEASE enables transdermal delivery of high molecular weight drugs. This is achieved by using short pulses of a laser to form pores in the epidermis through which a drug can be delivered.
The number and depth of micropores created by PLEASE can be customised by the user. This allows for fine-tuning of drug dosing while ensuring that the micropores are too shallow to reach the dermis region where nerves and blood vessels reside.
Pantec is also adding Manfred Asamer, CEO of Asamer Holding AG, and Werner Lanthaler, CEO of Evotec, to its board of directors.