This round brings the company’s total funding to more than $90 million after it raised $9 million last September as well. Investors included RA Capital Management, Engine Ventures, GHIC and Mission Bio Capital.
Cambridge, Massachusetts-based Vaxess brought in Sha as its CEO after co-founder Michael Schrader elected to step down from the corner office. Sha brings more than 20 years in life sciences, including time spent at Novartis and Genzyme. Most recently, she spent a decade at Sanofi, holding a number of leadership roles across the organization.
As VP of digital strategy, partnering and governance at Sanofi, Sha led negotiations and deal execution. At Genzyme, Sha worked on biomaterials-based products and helped guide strategic decisions around research and product commercialization.
Vaxess develops the MiMix patch, which features a soluble microarray with tips that gradually dissolve into the body after removal. These tips release their payload of vaccines over time, mimicking how natural infections interact with the body.
By allowing the immune system to mount a stronger, more durable response, they could provide more protection against disease, Vaxess says. The dissolving needles also eliminate any sharps hazard for simple patch disposal post-administration.
“I look forward to leading the Vaxess team as we work towards applying the MIMIX patch to many next-generation therapeutics and vaccines in partnership with life science leaders,” said Sha. “I’d also like to thank Michael for his incredible leadership at Vaxess over the last decade. What started as just an idea has evolved into a company that’s developed the most promising skin patch for drug delivery.”
