Funding to support clinical development of ANN-101, a once-weekly GLP-1 patch for obesity, and expansion of the HeroPatch™ platform
BOSTON–(BUSINESS WIRE)–Anodyne Nanotech Inc., a clinical-stage biotechnology company simplifying chronic care through transdermal delivery, today announced the closing of a $12.6 million Series A financing. The round was led by Velocity Partners VC and co-led by Evercurious VC, with major participation from Relativity Healthcare Partners.
Proceeds from the financing will support the advancement of ANN-101, Anodyne’s once-weekly GLP-1 patch for obesity, into a Phase I clinical trial, while accelerating the development of Anodyne’s transdermal platform for the delivery of peptides, monoclonal antibodies, and nucleic acid therapeutics. The financing will also support manufacturing scale-up and expansion of multiple strategic partnering activities.
“This financing marks a significant milestone for Anodyne,” said Jake Lombardo, Chief Executive Officer of Anodyne Nanotech. “Our lead program, ANN-101, addresses significant unmet needs in a disease rapidly coming to the forefront of healthcare. We have demonstrated the ability to deliver multi-milligram weekly doses of a GLP-1 with a patch, and reach the exposures obesity treatment requires, without an injection or cold storage. The platform’s defining ability to deliver large doses enables co-formulation and delivery of multiple active ingredients in a single patch. Closely following our GLP-1 program is our apelin/GLP-1 combination patch, which is designed to counter the lean-mass loss that accompanies GLP-1–driven weight loss, a major challenge in the treatment of obesity.”
Anodyne also announced that Vikram Lamba has joined its Board of Directors. Mr. Lamba brings more than 30 years of executive leadership and business development experience across global pharmaceutical companies and innovative biotechnology startups. He previously served as Chief Executive Officer of Zosano Pharma, where he led a $425 million strategic partnership with Eli Lilly focused on microneedle technology and guided the company through its initial public offering. Earlier in his career, Mr. Lamba held senior leadership roles in mergers and acquisitions and corporate development at Bayer AG, including serving as Director of M&A.
“Anodyne is building the delivery layer for the next generation of complex medicines,” said George Papastergiou, Partner at Velocity Partners VC. “Biologic drugs are still delivered via injections, creating friction for patients and limiting adherence, especially in chronic conditions. Anodyne’s needle-free transdermal platform is designed to deliver injectable-grade performance with tunable pharmacokinetics, enabling more effective and patient-friendly therapies with fewer side effects. With compelling results in GLP-1 applications and multiple paths toward commercialization, we’re excited to see this breakthrough transform the obesity market and expand across complex therapeutics.”
About Anodyne Nanotech
Anodyne Nanotech is a biotechnology company, developing next-generation transdermal therapeutics. The company’s solid-state microneedle technology is designed to deliver multi-milligram doses of large molecules (peptides, antibodies, and nucleic acid therapeutics) through a convenient, room-temperature-stable patch, while maintaining injection-level efficacy. Anodyne’s lead program, ANN-101, is a once-weekly GLP-1 patch for obesity. The company is headquartered in Boston, Massachusetts.
Contacts
Media Contact
Jake Lombardo
Chief Executive Officer
[email protected]
Related Links
https://www.theheropatch.com/
