BOSTON, Could 3, 2021 /PRNewswire/ — Burns & Levinson has closed a $4.2 million seed funding from Velocity Companions, Relativity Healthcare Fund and Large Pi Ventures for Anodyne Nanotech, Inc., a Boston-based biotechnology firm growing differentiated, transdermal types of high-value medication. The funding will assist increase the corporate’s Hero Patch™ platform, which makes use of microneedle expertise to ship clinically significant doses of macromolecules and small molecules. The deal, which closed on April 8, was led by Josef Volman, who co-chairs the agency’s Enterprise Legislation Group, and Emmanuel Johnson.
This new class of microneedles was invented at Tufts College and is now the core expertise of the Hero Patch™ platform at Anodyne, based by Hojat Rezaei Nejad, Konstantinos Tzortzakis, and Jake Lombardo. By incorporating solvent-free bulk drug substance instantly into microscopic porosities, Anodyne can load unprecedented quantities of the drug onto every microneedle. When the microneedle penetrates into the pores and skin, the drug dissolves within the affected person’s interstitial fluid and is systemically absorbed.
“Our set of applied sciences resolve many challenges that have been hindering transdermal supply of enormous molecules in a clinically related dosage for many years. Anodyne Nanotech’s major focus is now on biologics, and now we have proven supply of monoclonal antibodies and peptides in vivo. I consider our expertise is a gamechanger and unprecedented on many ranges, and we constantly work to increase and develop our capabilities,” mentioned Nejad, CTO of Anodyne Nanotech.
“We’re proud to be working with Anodyne,” mentioned Volman. “As a Tufts alumnus, it’s significantly rewarding to be working with corporations which have been launched out of Tufts with such a star workforce of former college students. We look ahead to working with Jake and Konstantinos and their spectacular investor group on growing a powerful enterprise round their cutting-edge science.”
Not solely does Anodyne’s method permit for unprecedented drug loading, but additionally utilizing the solid-state type of the drug substance can result in improved stability. This promise would circumvent the necessity for cold-chain distribution, a critically vital problem for growing international locations, with cost-saving benefits for the worldwide biopharmaceutical business. Anodyne has began collaborations with pharmaceutical corporations to check explicit biologics on the Hero Patch platform. The corporate plans to conduct scientific trials to characterize the bioequivalence, security and tolerability of a number of Hero Patch merchandise.
About Anodyne Nanotech
Anodyne Nanotech is a Boston-based, preclinical-stage biotech firm growing differentiated, transdermal types of high-value medication. The corporate’s patent-pending porous microneedle expertise gives the primary sensible and cost-effective platform, Hero Patch™, to ship clinically significant doses of macromolecules and small molecules.
About Burns & Levinson LLP
At Burns & Levinson, we offer high-level, client-centric and results-oriented authorized providers to our regional, nationwide and worldwide shoppers. We’re a full-service regulation agency with over 125 attorneys in Boston, Denver, Windfall, and London. Our areas of experience embrace: enterprise/finance, enterprise litigation, divorce/household regulation, enterprise capital/rising corporations, employment, property planning, authorities investigations, mental property, M&A/non-public fairness, probate/belief litigation, and actual property. We accomplice with our shoppers to resolve their enterprise and private authorized points in a collaborative, artistic and cost-effective method. For extra info, go to Burns & Levinson at www.burnslev.com.
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