FluGen has raised $7.8 million to fund early clinical development of a vaccine-delivery patch, the Milwaukee Journal Sentinel reported. The lead investor in the round was Knox, a firm led by wealthy University of Wisconsin-Madison alum Frederick J. Mancheski.
The Madison, WI-based firm is planning a Phase I trial of the device, which is worn on the skin and is roughly the size of a poker chip. The skin patch uses a microneedle system to deliver vaccines into the skin in a less painful manner than standard syringe and needle injections. The company also claims on its website that its delivery technology could improve the effectiveness of vaccines.
FluGen chief executive Paul Radspinner told the Journal Sentinel that his firm plans to use an approved vaccine in its trial of the delivery device. The CEO hopes to have the device ready for the market by 2015. The company, founded in 2007, focuses on novel ways of producing and delivering flu vaccine.
- here's the Journal Sentinel story