Biotech company Vaxxas has just closed a successful series B investment round to fund clinical trials for its needle-free vaccination technology, Nanopatch, raising AU$25 million.
The technology was was developed by a research group led by professor Mark Kendall at the Australian Institute of Bioengineering and Nanotechnology at The University of Queensland, and involves
targeting a vaccine on a patch to cells right below the skin.
In total, Vaxxas has now raised AU$40 million in capital to continue developing Vaxxas’ patented Nanopatch platform, which has the potential to provide protection against polio, influenza, bacterial infections, and cancer in the future.
Vaxxas CEO David Hoey said, “As we have advanced the development of our Nanopatch needle-free vaccination technology, we have seen tremendous opportunities to create our own proprietary pipeline of Nanopatch-based vaccine products as well as those with partners. This funding creates an important inflection point for Vaxxas, as we are now poised to create significantly increased value through our first clinical studies.”
OneVentures MD MD Paul Kelly, who led the latest round of funding believes, “The funding positions the company to establish a high-value vaccine product pipeline and initiate clinical programs.”
Inventor of the Nanopatch, Mark Kendall on the technology: