Atlanta-based Micron Biomedical, an early-stage clinical-stage biotech company that simplifies the administration of vaccines, has just scored an additional $3 million investment from J2 Ventures, which backed Apex Space.
With this, the total investment secured in the Series A round accounts for $17 million. Notably, the round initiated in November 2022, was led by Global Health Investment Corporation (GHIC) and LTS Lohmann with participation from GRA Venture Fund.
The Series A extension will further support efforts to bring Micron Biomedical’s dissolvable microarray-based drug and vaccine products to global markets, providing convenience and access in high-income markets. It will include a focus on national health security, and meet the needs of under-served populations in low- and middle-income countries.
In addition to the investment, J2 Ventures Partner and former Chief Medical Officer of the Defense Innovation Unit, US Department of Defense, Dr. Matt Goldman, will join Micron’s board as an observer.
“We’re excited by J2 Ventures’ support of our commercial strategy to bring important drug and vaccine products to markets globally,” said Micron CEO, Steven Damon. “We’ve been speaking with the team since they learned about us after our initial financing, and their participation coincides with significant commercial interest from their network, helping to further our goal of making this technology widely available to patients.”
“Our fund specialises in working with best-in-class deep technology that is primed to scale with government and Micron Biomedical is an obvious fit,” said Alexander Harstrick, Co-Founder and Managing Partner at J2 Ventures. “We are thrilled to support Micron’s efforts that have the potential to radically disrupt the most significant logistical obstacles in delivering pharmaceutical and vaccine products to both private sectors and the government.”
Simplifies vaccine delivery via dissolvable patch
Micron Biomedical was founded by Mark Prausnitz, Devin McAllister and Sebastien Henry in 2014. It has developed a novel vaccine delivery technology based on a dissolvable microneedle patch. The company’s proprietary vaccine patch technology is designed to deliver vaccines through the skin painlessly and effectively, using tiny needles made from a biocompatible polymer that dissolve after insertion.
This vaccine patch technology offers several advantages over traditional vaccine delivery methods such as injections. The patch can be easily self-administered, which may increase vaccine coverage and compliance, especially in hard-to-reach populations. It can also eliminate the need for refrigeration and needle disposal, reducing the cost and complexity of vaccine distribution.
Micron Biomedical is currently working on developing vaccine patches for a range of infectious diseases, including COVID-19, cancer and other chronic diseases. The technology is still in the development phase but has shown promising results in preclinical studies.
