VAXESS ANNOUNCES ADDITIONAL $10 MILLION IN FUNDING

Vaxess’s interim phase 1 clinical trial results unlock final tranche of company’s Series B

CAMBRIDGE, Mass., January 10, 2023 —  Vaxess Technologies, Inc., a life sciences company developing a shelf-stable vaccine patch with potential for self-application, today announced that RA Capital, The Engine, and Mission BioCapital have invested an additional $10 million in the company. Structured as part of Vaxess’s Series B, this investment is a result of the positive interim results from Vaxess’ phase I clinical trial of the MIMIX-Flu vaccine patch.

“In 2022, Vaxess became the first company in the world to start a phase 1 trial of a vaccine patch with sustained release, dissolvable microneedles — providing more precise dosing and potentially increasing the effectiveness of the vaccine,” said Michael Schrader, CEO of Vaxess. “Given the novelty of our vaccine patch platform, Vaxess’s Series B financing was structured in two tranches, where the final trache was dependent on the initial results from the phase 1 trial. We are thrilled to receive this additional support from existing investors as a result of the very promising phase 1 data.” 

In December, Vaxess published the initial results from its phase 1 trial of the MIMIX-Flu vaccine patch. The trial, conducted in 45 healthy patients, evaluated H1N1 influenza antigen from Vaxess’s partner, GC Biopharma Corp., delivered via the MIMIX Patch. Vaxess enrolled healthy adult volunteers ages 18-39 to evaluate the safety, reactogenicity, tolerability, and immunogenicity profiles for two influenza vaccine dose levels, fractional H1 vaccine dose level 7.5 μg and standard H1 vaccine dose level 15 μg vs placebo. 

About Vaxess Technologies

Vaxess Technologies is developing the MIMIX™ sustained release patch technology, the easiest and most effective way to administer vaccines and therapeutics. For vaccines, the controlled release simulates the pace of a natural infection, helping the body produce a slow, strong, and enduring ramp-up of immune response, ultimately boosting a vaccine’s effectiveness. Engineered for stability, Vaxess’s patch does not require refrigeration and can be shipped to and applied in low resource settings.

Vaxess has raised grant and venture capital funding from groups such as RA Capital Management, The Engine, BARDA, DARPA, NIH, NSF and the Gates Foundation. For more information, please visit the company website at www.vaxess.com or send additional inquiries tocontact@vaxess.com.