Atlanta-based Micron develops dissolvable, microarray-based products to simplify the delivery of drugs and vaccines. J2 Ventures provided the additional $3 million. J2 Ventures Partner Dr. Matt Goldman joins Micron’s board as an observer following the financing. Goldman previously served as chief medical officer for the Defense Innovation Unit of the U.S. Defense Dept.
The company initially announced the Series A funding, led by Global Health Investment Corporation and LTS Lohmann, in November 2022. GRA Venture Fund also participated.
Micron said its Series A extension further supports efforts to bring its drug delivery technology to market. It said its focus centers around national health security and meeting needs of underserved populations.
The patented microarray technology enables the administration of drugs and vaccines that require cold storage and administration within minutes. It can be self-administered or caregiver-administered. The technology simplifies transport, storage and administration while eliminating traditional injection sharps waste, Micron said. Completed trials demonstrated clinical efficacy and strong patient preference, according to the company.
“We’re excited by J2 Ventures’ support of our commercial strategy to bring important drug and vaccine products to markets globally,” said Micron CEO Steven Damon. “We’ve been speaking with the team since they learned about us after our initial financing, and their participation coincides with significant commercial interest from their network, helping to further our goal of making this technology widely available to patients.”
