Microdermics, a Vancouver, Canada-based developer of an innovative microneedle platform that provides delivery of vaccines and biologics, closed a $1M financing round.
Backers included e@UBC Seed Fund, K5 Ventures and Shoreline Ventures, among others.
The company intends to use the funds for scale-up and clinical validation studies in support of current and future corporate collaborations.
Led by Grant Campany, president and CEO, Microdermics has pioneered a novel drug delivery system that uses tiny microneedles that are less than 1 mm long, which provide less painful and more efficient means for therapy. The company’s microneedles (built on research at the University of British Columbia) aim to deliver medicine into the upper dermis, thereby avoiding blood vessels and nerve tissue, resulting in improved biological responses.