Life sciences financier Endpoints Capital has advanced pioneering Australian firm Vaxxas $9.7 million for its Research and Development Tax Incentive (RDTI).
This non-dilutive funding will enable Vaxxas to advance ongoing R&D work to develop the company’s vaccination technology.
Vaxxas is developing its High-Density Microarray Patch (HD-MAP) technology, which offers a simple, patient-friendly alternative to traditional needle-based vaccination.
The technology delivers vaccines directly into the skin via thousands of microprojections. The HD-MAP technology stimulates a faster and potentially stronger immune response at a fraction of the dose typically required for intramuscular injections.
The funding advance from Endpoints Capital will allow Vaxxas to leverage Australia’s RDTI program to accelerate R&D activities required to expand the company’s vaccine pipeline, which targets existing and emerging vector-borne diseases.
“This investment by Endpoints Capital is a significant endorsement of Vaxxas’ technology and our mission to transform global health through innovative vaccine delivery,” said Vaxxas chief financial officer Doug Cubbin. “Having access to funds now, allows us to keep progressing R&D activities without delay which is critical to businesses like Vaxxas advancing their technologies in a timely way.”
Chief commercial officer at Endpoints Capital, Holly Stefl, said, “We are delighted to be supporting Vaxxas on their path to commercialising this technology that has great potential to make a difference to the way we receive vaccination in the future. Partnering with innovative biotech companies like Vaxxas to leverage the R&D refund process, can help to advance health outcomes for Australians and people worldwide.”
Vaxxas is moving closer to bringing its HD-MAP technology to market by scaling up manufacturing capabilities at its state-of-the-art biomedical facility in Brisbane.
Life Sciences Queensland’s new acting CEO, Dr Ryan Parlett, added, “The life sciences sector in Queensland is booming, and this kind of investment by Endpoints Capital is exactly what the ecosystem needs to allow companies to continue to grow, innovate and translate their research into solutions for the world.
“We are very excited by the work being done by the Vaxxas team in Brisbane. Their needle-free vaccine technology has the potential to be a real game-changer for delivering life-saving vaccines.”