GHIC Adds Micron Biomedical to Global Health Security Portfolio
November 28, 2022
Global Health Investment Corporation and LTS Lohmann Led the Series A Financing with Participation from GRA Venture Fund.
ATLANTA, GA -- Micron Biomedical, Inc. is a clinical stage life sciences company advancing its Micro Array Patch (MAP) technology for self-administration and simple, less-skilled caregiver administration of drugs and vaccines without needles. The $14 million Series A financing will support the company's development of commercial manufacturing, currently underway and establishes a strong partnership between Micron and LTS Lohmann. Micron's development pipeline includes vaccine and drug products partnered with pharma companies, foundations, and government agencies. Since inception, Micron has supported its R&D activities and shown clinical efficacy with more than $40 million in non-dilutive financing.
"Micron's technology has the potential to change the way we administer many of today's currently injected drugs and vaccines" said Micron CEO Steven Damon. "We are deeply committed to bringing Micron's MAP technology-based drug and vaccine products to market, improving access and having a positive impact on patients globally. This financing, and in particular our new investors, will help us to achieve our goals".
Micron's MAP technology is well suited to delivering a wide range of compounds including nucleic acids, peptides, proteins, and viruses (inactivated and live-attenuated), as well as small-molecule drugs. The benefits of Micron's MAP technology include the potential to enhance the efficacy of drugs and vaccines, ease-of-use enabling self-administration and administration by less skilled caregivers, sharps-free waste, thermal stability and small size, which together simplify storage and distribution with the potential to have products mailed to people's homes or available to pick up at the pharmacy without needing a professional to administer. These benefits render Micron's MAP technology especially desirable in case of a pandemic.
About Micron Biomedical
Micron is an Atlanta-based company whose MAP technology was initially developed in Dr. Mark Prausnitz's labs at Georgia Tech. Micron has further developed the technology and emerged as a leader in the field of dissolvable microarray-based, drug and vaccine delivery technology. In addition to these new investors, Micron's other partners and funders include the Bill & Melinda Gates Foundation, the Centers for Disease Control and Prevention (CDC), UNICEF, PATH and several private and public undisclosed pharmaceutical companies. Micron has also received support from the Georgia Research Alliance.
For more information, visit www.micronbiomedical.com.