Vaxess Technologies, founded by Harvard Business School students 14 years ago, has raised $50 million in funding to pivot its microneedle patch technology from vaccine delivery to GLP-1 treatments. The company originally aimed to disrupt the vaccine industry by replacing traditional needles with skin patches.
The pivot represents a significant strategic shift for Vaxess, which has spent over a decade developing its microneedle patch platform for vaccine applications. GLP-1 medications are used to treat diabetes and obesity, representing a rapidly growing pharmaceutical market with high demand for improved delivery methods.