Anodyne Nanotech announced the closing of a $12.6 million Series A financing round to advance its once-weekly GLP-1 patch for obesity into Phase I clinical trials. The round was led by Velocity Partners VC and co-led by Evercurious VC, with major participation from Relativity Healthcare Partners.
Anodyne Nanotech is a clinical-stage biotechnology company focused on simplifying chronic care through transdermal drug delivery. The company’s lead program, ANN-101, is a once-weekly GLP-1 patch designed for obesity treatment.
The proceeds from the financing will support the advancement of ANN-101 into a Phase I clinical trial. The funding will also accelerate the development of Anodyne’s transdermal platform for delivering peptides, monoclonal antibodies, and nucleic acid therapeutics.
Anodyne also plans to use the funding to support manufacturing scale-up and the expansion of multiple strategic partnering activities.
The company’s HeroPatch platform is based on solid-state microneedle technology designed to deliver multi-milligram doses of large molecules through a convenient, room-temperature-stable patch while maintaining injection-level efficacy.
Anodyne said it has demonstrated the ability to deliver multi-milligram weekly doses of a GLP-1 using a patch and reach the exposures needed for obesity treatment without requiring injection or cold storage.
The company is also developing an apelin/GLP-1 combination patch designed to address lean-mass loss that can accompany GLP-1-driven weight loss. Anodyne said the platform’s ability to deliver large doses could enable co-formulation and delivery of multiple active ingredients in a single patch.
Anodyne also announced that Vikram Lamba has joined its Board of Directors. Lamba brings more than 30 years of executive leadership and business development experience across global pharmaceutical companies and biotechnology startups. He previously served as CEO of Zosano Pharma, where he led a $425 million strategic partnership with Eli Lilly focused on microneedle technology and helped guide the company through its initial public offering. Earlier in his career, he held senior leadership roles in mergers and acquisitions and corporate development at Bayer.
KEY QUOTES:
“This financing marks a significant milestone for Anodyne. Our lead program, ANN-101, addresses significant unmet needs in a disease rapidly coming to the forefront of healthcare. We have demonstrated the ability to deliver multi-milligram weekly doses of a GLP-1 with a patch, and reach the exposures obesity treatment requires, without an injection or cold storage. The platform’s defining ability to deliver large doses enables co-formulation and delivery of multiple active ingredients in a single patch. Closely following our GLP-1 program is our apelin/GLP-1 combination patch, which is designed to counter the lean-mass loss that accompanies GLP-1–driven weight loss, a major challenge in the treatment of obesity.”
Jake Lombardo, CEO of Anodyne Nanotech
“Anodyne is building the delivery layer for the next generation of complex medicines. Biologic drugs are still delivered via injections, creating friction for patients and limiting adherence, especially in chronic conditions. Anodyne’s needle-free transdermal platform is designed to deliver injectable-grade performance with tunable pharmacokinetics, enabling more effective and patient-friendly therapies with fewer side effects. With compelling results in GLP-1 applications and multiple paths toward commercialization, we’re excited to see this breakthrough transform the obesity market and expand across complex therapeutics.”
George Papastergiou, Partner at Velocity Partners VC
