UCC spin-out company ArrayPatch raises €1.6M in seed round to advance nail fungal treatment

6 Feb 2026

UCC spin-out ArrayPatch Ltd, a life sciences company developing innovative microneedle-based treatments, has raised €1.6 million following the first stage of a €3 million seed funding round. The funding will support the development of ArrayPatch’s lead product ITZ-DerMap, a new solution designed for the treatment of nail fungal infections.

The round was led by Lakeside Capital Ltd, with additional investment from Enterprise Ireland, The Boole Investment Syndicate, EAF and DeepIE Ventures. Sean Corkery, Partner at Lakeside Capital Ltd, will join the ArrayPatch Board of Directors in conjunction with the investment. Earlier loans of €260K, plus interest, were also converted into shares in the company following the funding round.

This funding will help the company move ITZ-DerMap into clinical testing. Using the company’s DerMap technology, ITZ-DerMap delivers medications via a pain-free, dissolvable microneedle patch that releases medication under the skin on administration, offering a simpler and less invasive solution for both pharmaceutical partners and patients.

“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, Partner at Lakeside Capital. “The team’s innovative approach to a targeted and more efficient drug delivery positions the company for a breakthrough clinical and commercial progress in several billion-dollar therapeutic markets.”

Dr Sally Cudmore, Director of UCC Innovation said: “Congratulations to ArrayPatch on this investment milestone. ArrayPatch is an excellent example of the economic and societal impact that UCC researchers make from their expertise, research and creativity. We look forward to seeing ArrayPatch’s innovative microneedle technology advance and deliver real benefits for patients.”

ArrayPatch Ltd spun out of UCC in 2024. The company has enjoyed recent success in a number of entrepreneurial competitions, including the  InterTradeIreland Seedcorn Investor Readiness Competition 2025, the 2023 IDEATE Ireland competition and Innovation of the Year at the 2022 Irish Pharma Industry Awards.