Atlanta, USA-based life science company developing dissolvable microarray-based products, Micron Biomedical, raises an additional USD 3 million in Series A. The round took place on May 10, 2023. J2 Ventures led the financing for the firm.
The company’s Series A round originally took place in November 2022. With the latest financing, Micron Biomedical’s total Series A proceeds amount to USD 17 million. Global Health Investment Corporation (GHIC) led the financing back then. Meanwhile, LTS Lohmann, with participation from GRA Venture Fund, joined in Series A.
As a part of the deal, J2 Ventures Partner and former Chief Medical Officer of the Defense Innovation Unit, US Department of Defense, Dr Matt Goldman, intends to join Micron’s board as an observer.
Purpose of financing for Micron Biomedical
With the latest Series A extension, the company seeks to further support efforts to bring its dissolvable microarray-based drug and vaccine products to markets globally. It also intends to provide convenience and access in high-income markets, including a focus on national health security. Meanwhile, the company aims to meet the needs of under-served populations in low- and middle-income countries.
What the company’s official has to say
Micron CEO, Steven Damon, said, “We’re excited by J2 Ventures’ support of our commercial strategy to bring important drug and vaccine products to markets globally. We’ve been speaking with the team since they learned about us after our initial financing, and their participation coincides with significant commercial interest from their network, helping to further our goal of making this technology widely available to patients.”
What the lead investors have to add
In addition, Alexander Harstrick, Co-Founder and Managing Partner at J2 Ventures said, “Our fund specializes in working with best-in-class deep technology that is primed to scale with government, and Micron Biomedical is an obvious fit. We are thrilled to support Micron’s efforts that have the potential to radically disrupt the most significant logistical obstacles in delivering pharmaceutical and vaccine products to both private sectors and the government. Products that utilize the Micron technology have the potential to accelerate positive global impact including national security and veteran health.”
About the company
Mark Prausnitz, Sebastien Henry and Devin McAllister launched the company in 2014. Micron Biomedical is the leader in the field of dissolvable microarray-based drug and vaccine administration technology. Clinical stage life science company is on a rapid path to commercialize its proprietary applicator-free, dissolvable, microarray technology.
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