Vaxxas is commercialising a microneedle-array-patch (MAP) for the efficient delivery of vaccines that dramatically enhance the performance of existing and next-generation vaccines. The company believes its innovative needle-free technology will be fundamental to help the world in rethinking what's possible with vaccines.
Vaxxas was established based on a suite of intellectual property around the
design and use of the MAP originally developed in the
laboratory of Prof. Mark Kendall at the Australian Institute of
Bioengineering and Nanotechnology (AIBN) at University of
Queensland. The company was set up in 2011, raising a Series A financing round from Brandon Capital (investing out of
its 2 VCLPs, BBF1 IIF Partnership, LP and MRCF IIF, LP),
One Ventures (investing out of an ESVCLP) and Boston based Healthcare
The Company then raised a $36 million Series B financing
in Q2 2017, with these funds predominantly coming from the One Ventures managed funds (including ESVCLPs). In April
2020, the company raised a $15 million Series C investment
from global pharma company Merck.
Vaxxas' MAP technology has now been
validated in human clinical studies and has been shown to
enhance the efficiency and effectiveness of a vaccine's immune response. The company uses proprietary dry-coating technology that can eliminate or
significantly reduce the need for vaccine refrigeration during storage and
transportation, easing the resource and logistics burden of maintaining the
vaccine "cold chain".
Vaxxas is targeting initial applications in infectious disease and oncology
and has forged collaborations with leading global organisations in vaccine
commercialisation, including Merck/MSD, the United States Biomedical
Advanced Research and Development Authority (BARDA)(pandemic flu), the
World Health Organization (WHO), and the Bill and Melinda Gates Foundation
(measles and rubella).
Recently, Vaxxas has in-licensed a COVID-19 vaccine which it is now
developing on its MAP delivery platform. If successful, a COVID-19 vaccine
on the Vaxxas MAP delivery system would not require to be kept in a cold
chain and nor would it require to be administered by a highly trained
healthcare professional. The Vaxxas MAP technology could become an
important part of the global fight against pandemic infections.
and ESVCLP programs played a critical role in providing the initial
investment capital required by Vaxxas to take the MAP vaccine delivery
technology from a lab at AIBN in Brisbane to its early clinical studies. Today, headquartered in Brisbane, Vaxxas has over 70 highly skilled (STEM)
employees most based at its sites in Brisbane. The Company is continuing to
rapidly expand and, indeed, has just begun to build its first manufacturing
facility in Brisbane.
In September, the Australian Investment Council lodged a very
important submission with the Federal Department of the Treasury in
response to the Venture Capital Tax Concessions Review which was
announced as part of the Government’s Digital Economy Strategy in
the 2021–22 Federal Budget. The review has been focused on how
effective VCLPs, ESVCLPs and AFOFs have been in attracting domestic
and foreign capital, developing innovation, and expanding venture capital
management skills and experience in the domestic market. Read the
Published February, 2022