#Ireland #Cork #Microneedle #ArrayPatch #ITZ-DerMap

ArrayPatch Secures Seed Funding for ITZ-DerMap™

ArrayPatch Ltd, a pioneering biotech company based in Cork, Ireland, has made significant strides in the treatment of onychomycosis, commonly known as nail fungus. On February 10, 2026, the company announced the successful closing of its initial seed funding round, securing €3 million aimed at further developing its lead therapeutic program, ITZ-DerMap™.

This round saw €1.6 million raised, spearheaded by Lakeside Capital Ltd, with contributions also coming from various investors including Enterprise Ireland, The Boole Investment Syndicate, and DeepIE Ventures. As part of this investment, Sean Corkery, Director at Lakeside Capital, will join the Board of Directors at ArrayPatch. Notably, €0.3 million in previously issued convertible loan notes, along with accrued interest, were converted into equity alongside the first closing.

The newly acquired funding will expedite the clinical development of ITZ-DerMap™, which is a revolutionary, pain-free microneedle patch designed specifically for the delivery of antifungal medication directly to affected areas. The patch utilizes miraculous polymer-free microneedles that dissolve upon contact with the outer skin layer, releasing medication effectively at the target site. This innovative method not only aims to alleviate the discomfort often associated with traditional nail fungus treatments but also enhances the efficacy of drug delivery.

Dr. Waleed Faisal, Co-Founder and CEO of ArrayPatch, expressed his enthusiasm about the funding, stating, "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."

The backing from Lakeside Capital signals confidence in ArrayPatch’s strategic vision. Sean Corkery commented on the investment opportunity by saying, "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." This sentiment illustrates the optimism surrounding the company’s current trajectory as it aims to tackle the nail fungus issue, which affects millions globally.

The significance of this funding round is heightened by ArrayPatch's track record of success. The company clinched top honors in the InterTradeIreland all-island Seedcorn Investor Readiness Competition in 2025 and was named winner at the 2023 IDEATE Ireland competition, as well as receiving Innovation of the Year at the 2022 Irish Pharma Awards. These accolades underscore the immense potential of ArrayPatch and its innovative microneedle-based approach to treating various medical conditions.

Beyond nail fungus, ArrayPatch is ambitiously developing additional applications using its DerMap™ platform, targeting conditions like skin cancer, diabetes, obesity, and migraines. This diverse pipeline highlights the versatility and potential impact of its technology in the biopharmaceutical landscape.

Founded as a spin-off from University College Cork, ArrayPatch has efficiently combined academic research with entrepreneurial innovation, attracting significant non-dilutive funding along with critical industry recognition. For those interested in learning more about ArrayPatch Ltd and its portfolio of products, further information can be found on their official website at www.array-patch.com.

As ArrayPatch moves forward with its clinical development, this seed funding marks a crucial leap towards realizing its aspirations of revolutionizing treatment options for nail fungus and beyond, promising hope for patients in need of effective care.