Durham, NC - Slate Pharmaceuticals, a Durham based startup focused on hormone replacement therapies, has raised about $5 million from 34 private investors, according to the Raleigh News & Observer.

Slate plans to use the money to market an implantable testosterone pelletcalled Testopel, which helps men with a testosterone deficiency.

The Slate treatment would be more convenient than current therapies, company CEO Boby Whitehead told the N&O.

The company’s Web site notes that as many as one in five men over 50 have low testosterone levels.

The company plans to develop other implantable hormones and launch them in the U.S. as well. It will seek partnerships to market the products outside of the United States.

Founded in 2007, Slate employs 20 people and also has a London, England office.
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