Navigation Links
Microdermics Closes $1 Million Funding Round to Scale Technology to Replace Hypodermic Needles
Date:4/20/2017

Microdermics today announced completion of its $1 million financing round, which was oversubscribed and received robust global interest. Microdermics has developed the only commercially scalable, low-cost, customizable, metal, hollow, microneedle platform that provides efficient delivery of vaccines and biologics—addressing the reliance worldwide on the 160-year old, generic hypodermic needle.

The novel drug delivery system uses tiny microneedles that are less than 1 mm long, which provide safer, less painful, more efficient, and more cost-effective means for therapy. Microdermics’ microneedles deliver medicine into the upper dermis; thereby avoiding blood vessels and nerve tissue, resulting in improved biological responses.

“Over 1 billion people around the world suffer from ‘needle phobia’ and avoid injections,” said Grant Campany, president and CEO of Microdermics. “This represents one of the most significant health-related market failures in the world today. On a global level, there’s a staggering amount of people who shun critical therapies or vaccinations because of their fear of hypodermic needles.”

Although microneedle delivery systems have been tried before, they have had limited success due to the materials used (silicon and plastic), which significantly limit their commercial scalability and robustness. Microdermics’ microneedle delivery system are made of metal, and the company’s patented fabrication process is customizable, providing a flexible platform for optimizing the performance of a vaccine or biologic.

Another benefit of Microdermics’ microneedle delivery system is its efficacy. Traditional vaccines currently delivered with a hypodermic needle go into muscle, yet the same vaccine delivered to the upper dermis provides well-documented dose-sparing effects. This presents an entirely new economic model for vaccine companies, since this translates into exponentially higher utilization of either traditional (e.g., flu, rabies) or scarce (e.g., yellow fever) vaccines.

“Our goal is to more efficiently vaccinate high-risk patient populations with a safer, more effective delivery system,” continued Campany.

“Our investment in Microdermics is an example of finding an excellent, well-run company providing a solution to a global need,” said Ray Chan, founding partner of K5 Ventures. “We are so excited to support development and commercialization for this delivery system, which will be beneficial and have a huge impact to so many around the world.”

“Shoreline has been an active investor in the drug formulation and delivery space for some time. When first presented with the Microdermics story it immediately resonated with us. We are always on the lookout for innovative technologies that give the end user a more convenient and less invasive experience and provides superior efficacy for the drugs or vaccines being delivered. Their unique approach addressed both of these and we are delighted to be part of this exciting opportunity," said Peter Craddock, Managing Director of Shoreline Ventures.

"Microdermics’ innovative solution, experienced team, and great potential for positive health impact make it a great addition to the high calibre of new ventures that continue to bloom here at UBC,” Todd Farrell, President e@UBC Seed Fund said.

The financing round included investors from the US, Canada, and Switzerland, and will be used for scale-up and clinical validation studies in support of current and future corporate collaborations. The round closed in March.

“This funding has come at the perfect time for us,” concluded Campany. “It will allow us to execute a few critical hires and invest in infrastructure to support clinical scale-up activities planned for 2017.”

About Microdermics:
Microdermics, In is a Vancouver-based medical device company (with an office in San Francisco) built on research at the University of British Columbia revolutionizing the biopharmaceutical market for both patients and healthcare practitioners. As the only company with a low-cost, scalable, hollow, metal microneedle, Microdermics eliminates the danger of accidental needle sticks caused by hypodermic needles and addresses the global health impact related to needle phobia. Microdermics will leverage its proprietary and innovative delivery system across a spectrum of biopharmaceuticals, including a new market for biosimilars, providing biopharmaceutical companies with a means of differentiating themselves from their competitors as well as securing product life cycle extensions. Learn more at http://www.microdermics.com.

For more information, please contact:

Rory St. Clair
Microdermics Inc.
rory(at)microdermics.com
1.778.938.3108

Kimber Smith Fidler
K5 Ventures for Microdermics
kimber(at)k5launch.com
+1 (714) 267 0219

###

Read the full story at http://www.prweb.com/releases/2017-April/Microdermics/prweb14255813.htm.


'/>"/>
Source: PRWeb
Copyright©2017 Vocus, Inc.
All rights reserved


Related medicine news :

1. One Minute Herpes Cure Review Discloses the Way to Permanently Treating Herpes
2. The Natural Cure for HPV Review Discloses Andrea Segovia's New Effective HPV Remedy
3. Adonis Golden Ratio Review Discloses the Secrets to the Perfect Body
4. Urticaria Cure By Dr. Gary Levin Review Discloses Natural Way to Overcome Urticaria Fast
5. Shortage of rheumatologists -- In some US regions closest doctor may be 200 miles away
6. Face Fitness Center Review Discloses the Simplest Method to Get Rid of Chubby Cheeks
7. "Cure Hemorrhoids in 48 Hours" Review Discloses New Natural Hemorrhoids Treatment
8. Multiple Sclerosis Treatment Review Discloses New Remedy to Overcome MS Symptoms
9. Heartburn No More Review Discloses the Most Effective Natural Remedy to Stop Pain
10. Catalyze Closes Series A Funding to Expand Development of Its Healthcare Platform
11. Fibroids Miracle Review Discloses the Secrets to Naturally Healing Fibroids
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/22/2017)... ... September 22, 2017 , ... ... rooms is celebrating the one year anniversary of its Houston-Fallbrook facility. , ... Dr. Otinwa, Facility Medical Director of First Choice Emergency Room Houston-Fallbrook. “It has ...
(Date:9/22/2017)... ... September 22, 2017 , ... ... products at customers’ doorstep. According to Smart Mart, customers can now order vegetable, ... offer wearable, and customers can find clothing at discounted prices. Apart from this, ...
(Date:9/21/2017)... ... September 21, 2017 , ... ... — 1:30 p.m. – 3:00 p.m. ET, http://www.fdanews.com/processcapabilityindices      ... things wrong, run afoul of The Quality System Regulation (§820.250), and Devicemakers find ...
(Date:9/21/2017)... ... September 21, 2017 , ... Demonstrating a consistent ... health departments have been awarded five-year accreditation status through the Public Health ... being served by a PHAB-accredited health department now extend to more than ...
(Date:9/21/2017)... ... September 21, 2017 , ... Preora Diagnostics Inc. ... screening tests, has received two prestigious recognitions that acknowledge the promise of its ... Preora has been named a Top 100 Finalist for the 16th annual ...
Breaking Medicine News(10 mins):
(Date:9/5/2017)... , Sept. 5, 2017  Getinge, a ... created a vibrant charitable donation program -- "Color ... support congenital heart defect research by The Children,s ... and the general public are encouraged to download ... submit the completed artwork to the gallery on ...
(Date:9/5/2017)... -- Oramed Pharmaceuticals Inc. (NASDAQ: ORMP ) ... focused on the development of oral drug delivery systems, ... with the U.S. Food and Drug Administration (FDA) regarding ... At the meeting, the FDA ... of ORMD-0801, would be a Biologics License Application (BLA).  ...
(Date:9/1/2017)... FISHERS, Ind. , Sept. 1, 2017  Explorers Like ... to capture America,s greatest aural experiences — and deliver these ... nature,s experience to help people feel and heal better. ... While nothing beats ... de-stress and refresh your mind, Life Environments™ is the next ...
Breaking Medicine Technology: