Boston Biotech, Anodyne Nanotech Advances the Hero Patch Platform by Securing $4.2M in Seed Financing
Anodyne Nanotech, Inc., a Boston-based biotechnology company developing differentiated, transdermal forms of high-value drugs, announced today that it has raised $4,200,000 to expand its Hero Patch™ platform. Lead investors were Velocity Partners, Relativity Healthcare Fund, and Big Pi Ventures.
“For many years the pharmaceutical industry has envisioned, but never achieved, a transdermal patch to replace subcutaneous administration of high-value biologics,” said Lampros Kourtis, Ph.D., a Partner at Velocity. “With its solid-state porous microneedles, Anodyne looks poised to succeed where others have failed.”
This new class of microneedles was invented at Tufts University and is now the core technology of the Hero Patch™ platform at Anodyne, founded by Hojat Rezaei Nejad, Konstantinos Tzortzakis, and Jake Lombardo. By incorporating solvent-free bulk drug substance directly into microscopic porosities, Anodyne can load unprecedented amounts of the drug onto each microneedle. When the microneedle penetrates into the skin, the drug dissolves in the patient’s interstitial fluid and is systemically absorbed.
“With the ability to load up to 5 mg of drug per square centimeter, we can administer pharmacologically relevant doses of high-value biologic drugs like peptides and monoclonal antibodies,” said Anodyne CEO Jake Lombardo. “Our in vivo studies also show that we can achieve desired pharmacodynamic effects.”
Not only does Anodyne’s technique allow for unprecedented drug loading, but also using the solid-state form of the drug substance can lead to improved stability. This promise would circumvent the need for cold-chain distribution, a critically important challenge for developing countries, with cost-saving advantages for the global biopharmaceutical industry.
Mr. Lombardo added that he and others have found the Hero Patch—in placebo form—to be painless and non-irritating.
Anodyne has started collaborations with pharmaceutical companies to test particular biologics on the Hero Patch platform. The company plans to conduct clinical trials to characterize the bioequivalence, safety, and tolerability of several Hero Patch products.
“Modern R&D is yielding dozens of miraculous biologic drugs, but our means of administering them has scarcely improved since the 19th century,” said Michael Singer, MD, Ph.D., a director at Anodyne. “Patients don’t like getting shots. Our healthcare system would save time and money if we didn’t have to give so many shots.”
“We believe we have something to offer to all who work with biologics: patients, providers, pharmacies, and pharmaceutical companies,” said Mr. Lombardo. “We would be particularly gratified if Hero Patch could be used for needle-free delivery of biologics to children.”
About Anodyne Nanotech: Anodyne is a Boston-based, preclinical-stage biotech company developing differentiated, transdermal forms of high-value drugs. The company’s patent-pending porous microneedle technology provides the first practical and cost-effective platform, Hero Patch™, to deliver clinically meaningful doses of macromolecules and small molecules.
For further information: www.TheHeroPatch.com
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