Vaxxas secures $20 million for Nanopatch vaccine programs

Biotechnology company Vaxxas said on Monday that it has obtained $20 million in equity funding from new and existing investors.

The funds represent the first closing of a Series B venture, with the proceeds being used to advance a series of clinical programs and develop a pipeline of new vaccines for major diseases using the Vaxxas-exclusive Nanopatch technology.

“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,” Vaxxas President and CEO David Hoey said. “This funding creates an important inflection point for Vaxxas, as we are now poised to create significantly increased value through our first clinical studies.”

The Nanopatch platform activates the immune system by targeting vaccines to abundant immunological cells just below the skin’s surface to help fight influenza, polio, bacterial infections and even cancer. Vaxxas recently acquired funding from the World Health Organization to evaluate the Nanopatch for polio vaccination.

“OneVentures is proud to lead this Series B financing, which reflects the tremendous potential of Vaxxas through commercialization of the Nanopatch platform,” Dr. Paul Kelly, board chairman at Vaxxas, Ltd., and managing director at OneVentures, Ltd., said. “The funding positions the company to establish a high-value vaccine product pipeline and initiate clinical programs.”

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