Blueberry Therapeutics today announced that it has raised £3 million to progress the development of its topical fungal infection therapies into human clinical trials. The investment was led by the GM&C Life Sciences Fund, managed by Catapult Ventures, and included participation from San Francisco-based InClin Investments, as well as a number of private investors.

The investment will support progress of its innovative treatment for onychomycosis (fungal nail infection) and associated tinea pedis (athlete’s foot), into clinical development. In this large existing market valued at more than $3bn annually, patients have wanted a topical treatment for onychomycosis that has the effectiveness of existing oral treatment but without the toxicity concerns.