ArrayPatch Announces First Close of €3M Seed Round to Advance ITZ-DerMap™ for Treatment of Nail Fungus

CORK, Ireland, Feb. 10, 2026 /PRNewswire/ — ArrayPatch Ltd, a biotech company developing innovative microneedle-based therapeutics, today announced the first close of its €3 million seed funding round, to advance its lead program ITZ-DerMap, a novel therapeutic designed for the treatment of onychomycosis (nail fungus).

€1.6 million of the round has now been secured, led by Lakeside Capital Ltd. Additional investors included Enterprise Ireland, The Boole Investment Syndicate and DeepIE Ventures. Sean Corkery, Director at Lakeside Capital Ltd, will join the ArrayPatch Board of Directors in conjunction with the investment. €0.3 million of previously issued convertible loan notes along with accrued interest also converted into equity in the company following the first close.

The new financing will enable ArrayPatch to accelerate the clinical development of ITZ-DerMap, the first product emerging from its proprietary DerMap platform, towards clinical proof-of-concept. DerMap^TM is a pain-free microneedle patch comprising microscopic needles which are uniquely polymer-free and made entirely from the drug being delivered. On application of the patch, the microneedles penetrate the outer layer of skin, dissolve and release medication to the target site.  

“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,” said Dr. Waleed Faisal, Co-Founder and CEO of ArrayPatch.

“We are pleased to support ArrayPatch at this exciting early stage,” said Sean Corkery, Director at Lakeside Capital. “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.”

ArrayPatch Ltd was the winner of the InterTradeIreland all-island Seedcorn Investor Readiness Competition 2025, winner of the 2023 IDEATE Ireland competition and Innovation of the Year at the 2022 Irish Pharma Awards.

About ArrayPatch Ltd

ArrayPatch is a biotech company based in Cork, Ireland, developing next-generation microneedle-based therapeutics. Its DerMap platform harnesses polymer-free dissolving microneedles to deliver therapeutic agents directly to target tissues in a painless and efficient manner. The company’s lead program, ITZ-DerMap, is designed to address the significant unmet medical need in onychomycosis (nail fungus), with additional applications under development for skin cancer, diabetes, weight loss and migraine. ArrayPatch was spun out from University College Cork and has secured significant non-dilutive funding and industry recognition to support its development strategy. For more information, please visit www.array-patch.com 

Contact:

Dr. Waleed Faisal
Founder, CEO
waleed-faisal@array-patch.com 

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SOURCE ArrayPatch Ltd