J2 Ventures and the Global Health Investment Corporation (GHIC) led the round. Atlanta-based Micron plans to use the funds to expand commercial manufacturing for its drug delivery technology. This increases the companies Series A after Micron said in 2023 that it had raised $17 million.
Micron develops dissolvable, microarray-based products to simplify the delivery of drugs and vaccines. 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.
The funds add to a $3.7 million grant from CEPI secured earlier this month. The company continues to work toward an mRNA-based broad-protecting flu vaccine without needles. Other grants include $2 million from the BARDA Patch Forward competition and $7.5 million from the Bill & Melinda Gates Foundation. Micron plans to support the first Phase 2 clinical trial of its needle-free measles/rubella vaccine via the latter of the grants.
“The financial investment, commercialization experience and scientific and technical input of GHIC and J2 Ventures will accelerate our ability to bring needle-free medicines and vaccines to more people who either can’t access them today or prefer to receive them without an injection,” said Steve Damon, CEO of Micron Biomedical. “As we build on global demand for and positive data about Micron’s microarray technology for vaccines and drugs, this continued support poises Micron Biomedical to accelerate our commitment to improved health outcomes through better access and convenience.”
