Vaxxas raises $34 million for clinical program, increased output

Needle-free vaccination company Vaxxas has announced completion of a funding round worth $34 million, which it says will help it build production capacity and accelerate its clinical program for a Covid-19 vaccine candidate.

Among existing investors in the round were OneVentures and University of Queensland technology transfer organisation Uniquest.

“This financing from a strong syndicate of experienced life science investors reflects the significant potential of our considerable product pipeline and novel needle-free vaccination technology,” said David Hoey, Chief Executive Officer of Vaxxas, in a statement on Tuesday. 

He added that in the near-term, the company would advance its lead Covid-19 vaccine program as well as other clinical programs and continue building up commercial-scale manufacturing. 

Last month Vaxxas announced that Phase 1 trials of its spike protein Covid-19 candidate – Hexapro, developed by University of Texas at Austin – were beginning. 

These involve a fourth vaccine dose delivered to a group of 44 healthy adults aged 18 – 50 years at University of the Sunshine Coast’s Sippy Downs clinical research site.

The company believes the vaccine and delivery platform combination could be available as soon as 2025.

Vaxxas was established in 2011 and based on research conducted at University of Queensland. 

Its delivery platform uses thousands of tiny, micro-moulded spikes coated in dry vaccine, taking advantage of the high amount of immune cells in skin, which mean higher response of antibodies for a given dose, and not requiring a cold chain for storage and transport.

Earlier this year it announced development of automated processes with Aim Lab, needed to scale production of patches.

Picture: credit Vaxxas