Anodyne Nanotech Closes $4.2M Seed Financing

Anodyne Nanotech, Inc., a Boston-based biotechnology company developing differentiated, transdermal forms of high-value drugs, closed a $4.2m seed funding.

Backers included Velocity Partners, Relativity Healthcare Fund and Big Pi Ventures.

The company intends to use the funds to continue to develop its Hero Patch™ platform.

Founded by Hojat Rezaei Nejad, Konstantinos Tzortzakis, and Jake Lombardo, Anodyne Nanotech provides a Hero Patch™ platform, which uses microneedle technology to deliver clinically meaningful doses of macromolecules and small molecules.

By incorporating solvent-free bulk drug substance directly into microscopic porosities, Anodyne can load high amounts of the drug onto each microneedle. When the microneedle penetrates into the skin, the drug dissolves in the patient’s interstitial fluid and is systemically absorbed.

The company plans to conduct clinical trials to characterize the bioequivalence, safety and tolerability of several Hero Patch products.