Vaccine patch stacks cash
A Queensland tech start-up has raised $25 million towards a goal of delivering vaccines quickly and easily.
Vaccine technology company Vaxxas has completed a capital raising of $25 million, bringing it a step closer to achieving its goal of improving world health.
Vaxxas produces the Nanopatch, a device invented at UQ’s Australian Institute for Bioengineering and Nanotechnology by Professor Mark Kendall that seeks to replace traditional needle and syringe methods with a small patch that delivers vaccines painlessly.
“The Nanopatch has the potential to improve global health,” Professor Kendall said.
“The technology is the size of apostage stamp, and has thousands of small projections designed to deliver the vaccine to abundant immune cells in the skin.
“It is designed for thermostability, making it cheaper to produce, more convenient to transport and easier to access in developing countries.”
Vaxxas is one success story from UQ’s UniQuest commercialisation company.
“UniQuest is delighted that Vaxxas has been able to raise funds in a Series B venture financing round from existing and new investors, taking the total capital raised by the start-up company to $40 million,” UniQuest CEO Dr Dean Moss said.
“It is already one of UniQuest’s 30-plus commercialisation stories and I look forward to seeing the next exciting step in the development of the needle-free vaccination technology.”