University of Queensland spin out Vaxxas has managed to secure equity funding of A$25 million ($20 million) in a new round of financing to help advance a suite of clinical programs and develop a pipeline of new vaccine patches.
The firm’s proprietary Nanopatch platform activates the immune system by targeting vaccine to immunological cells immediately below the surface of the skin.
The firm intends to develop a range of needle-free options for protecting against major diseases such as influenza, polio, bacterial infections, and cancer.
The new funding, said Vaxxas chief executive David Hoey, creates an “important inflection point” for the firm, which is now “poised to create significantly increased value through our first clinical studies”.
The total capital now raised by Vaxxas is A$40 million.