Transdermal iron patch maker raises $11M in Series B round featuring Chinese investors

Fe3 Medical raised $11M in a Series B round as it seeks funding to achieve FDA and CE mark approval of its transdermal iron patch to treat iron-deficiency anemia. Participants in the round were InCube Ventures, HG Capital, Chinese VC firm PingAn Ventures and strategic Chinese investor Jianmin Pharmaceuticals. "Fe3 was created to address a clear, unmet clinical need as nearly half of the patients suffering from iron-deficiency anemia cannot tolerate oral iron," said Mir Imran, chairman and CEO of InCube Labs. "Our therapy is a compelling alternative to millions of patients, giving them the iron they need without the undesirable side effects of oral iron." More from FierceMedicalDevices