ArrayPatch, a Cork, Ireland-based biotech developing microneedle-based therapeutics, has announced the first close of a €3 million seed funding round to advance its lead program, ITZ-DerMap, a therapeutic designed to treat onychomycosis, commonly known as nail fungus.
The company said €1.6 million has been secured so far, led by Lakeside Capital Ltd. Additional participation came from Enterprise Ireland, The Boole Investment Syndicate, and DeepIE Ventures. As part of the financing, Sean Corkery, a director at Lakeside Capital, will join ArrayPatch’s board of directors. ArrayPatch also noted that €0.3 million of previously issued convertible loan notes, along with accrued interest, converted into equity following the first close.
ArrayPatch plans to use the proceeds to accelerate the clinical development of ITZ-DerMap toward clinical proof of concept. The program is the first product emerging from the company’s proprietary DerMap™ platform, which it describes as a pain-free microneedle patch made entirely from the drug being delivered. Upon application, the microneedles penetrate the outer layer of skin, dissolve, and release medication directly to the target site.
The company positions the approach as a targeted drug-delivery method to address a significant unmet need in nail-fungus treatment. Beyond onychomycosis, ArrayPatch said it has additional applications under development, including for skin cancer, diabetes, weight loss, and migraine.
ArrayPatch highlighted prior recognition and awards, including winning the InterTradeIreland all-island Seedcorn Investor Readiness Competition 2025, the 2023 IDEATE Ireland competition, and Innovation of the Year at the 2022 Irish Pharma Awards. The company was spun out of University College Cork and said it has also secured non-dilutive funding to support its development strategy.
KEY QUOTES
“With this first close of our seed round secured, we are well-positioned to advance ITZ-DerMap into clinical development and bring a transformational treatment option to patients suffering from nail fungus.”
Dr. Waleed Faisal, Co-Founder And CEO, ArrayPatch
“We are pleased to support ArrayPatch at this exciting early stage. The team’s innovative approach to targeted drug delivery positions the company for a breakthrough clinical and commercial opportunity in multi-billion dollar global therapeutic markets.”
Sean Corkery, Director, Lakeside Capital Ltd
