Vaxess Technologies, Inc., a Cambridge, MA-based life sciences company developing a shelf-stable vaccine patch with potential for self-application, raised an additional $9m in venture capital funding.
Backers included RA Capital, The Engine, GHIC, and Ulu Ventures. This brought Vaxess’s total equity and non-dilutive funding to more than $80m.
The company intends to use the funds to accelerate mRNA vaccine patch development.
Led by Michael Schrader, co-founder and CEO, Vaxess Technologies is developing the MIMIX™ sustained release patch technology, an effective way to administer vaccines and therapeutics. Engineered for stability, its patch does not require refrigeration and can be shipped to and applied in low resource settings. Vaxess has raised grant and venture capital funding from groups such as RA Capital Management, The Engine, BARDA, DARPA, NIH, NSF and the Gates Foundation.
In August 2023, the company announced that it is collaborating with AstraZeneca for the evaluation of an RNA-based pandemic influenza prototype vaccine in patch format. In April, Vaxess announced mRNA stability results from tests assessing the potential for room-temperature storage. The testing found that Vaxess’s silk fibroin formulations protect mRNA lipid nanoparticles (LNPs) through drying, and maintain in vivo potency after storage at 37°C for two weeks. The company is now focusing on the translation of the mRNA LNPs stored in silk fibroin matrices into a Vaxess MIMIX™ sustained release patch.
FinSMEs
13/09/2023