Micron Biomedical, a life science company that is developing the world’s first needle-free technology for drugs and vaccines that is based on dissolvable microarrays, today announced it secured over $16 million in a Series A3 financing round, bringing the Series A equity raise total to over $33 million. J2 Ventures and the Global Health Investment Corporation (GHIC) led the round which will expand commercial manufacturing of Micron’s technology.
Earlier this month, Micron Biomedical had announced progress toward the development of needle-free vaccines against Disease X through a $3.7 million grant from CEPI, recognition of its work toward mRNA-based broad protecting flu vaccine without needles as a $2 million winner of the BARDA Patch Forward competition and plans for the first Phase 2 clinical trial of Micron’s needle-free measles/rubella vaccine via a $7.5 million grant from the Bill & Melinda Gates Foundation.
Micron Biomedical’s needle-free technology rapidly delivers previously injectable-only vaccines and therapeutics via dissolvable microarray compounds pressed painlessly into the uppermost layers of skin. Medicines have thermostable properties like reducing or eliminating the need for a cold chain and can be self-administered with a button while producing no medical sharps waste.
Micron’s technology has been recognized for potentially disrupting vaccine and therapeutic access in hard-to-reach settings and where medicines need to be swiftly delivered and administered–such as in national security applications, military uses, or epidemics and pandemics.
As a part of the current financing round, Dr. Goldman will join Micron’s board of directors.
KEY QUOTES:
“There is an urgent global need to move ‘beyond the needle’ when delivering critical medications and vaccines and Micron Biomedical is an industry leader advancing its novel microarray technology across a wide range of disease categories. Our support of Micron Biomedical is a testament to both our commitment to high-impact biomedical innovations that improve global public health and the significant progress Micron Biomedical has demonstrated in addressing access challenges in global health.”
– Labeeb Abboud, CEO of GHIC
“The financial investment, commercialization experience and scientific and technical input of GHIC and J2 Ventures will accelerate our ability to bring needle-free medicines and vaccines to more people who either can’t access them today or prefer to receive them without an injection. As we build on global demand for and positive data about Micron’s microarray technology for vaccines and drugs, this continued support poises Micron Biomedical to accelerate our commitment to improved health outcomes through better access and convenience.”
– Steve Damon, CEO of Micron Biomedical
“In my 22 years as a physician with the U.S. Military, I have seen first-hand that injectable medicines are one of the most critical elements available in our medical arsenal, but logistical challenges related to refrigeration, storage, and limited clinicians to administer means that many traditionally injectable drugs spoil in the field. Micron Biomedical’s thermostable, needle-free technology holds distinct promise to tackle everyday challenges with drug storage, delivery, and administration–both in military and civilian applications, and we look forward to supporting Micron into commercialization.”
– Dr. Matt Goldman, General Partner at J2 Ventures who formerly served as the Chief Medical Officer of the Secretary of Defense’s Defense Innovation Unit and led significant vaccine research in the field as part of his work with the U.S. Military
