The company has said that existing investors, led by the Oxford Technology VCTs, were quick to respond and were joined by a handful of new investors in a fully subscribed fundraising. The Glide SDI is now in feasibility studies for delivering vaccines and biopharmaceuticals with five partners, three of which are new partners for 2008.
Through a simple one-click action, the pen-like device of the Glide SDI pushes the solid dose, in the form of a tiny, pointed rod, through the skin where it subsequently dissolves to release the drug or vaccine to the body. This can provide key benefits to the patient, healthcare provider and manufacturer, the company said.
Charles Potter, Glide Pharma’s CEO, said: “This funding reflects the major progress we have made in positioning the Glide SDI system as a mainstream alternative for the injection of small molecules, biopharmaceuticals and vaccines. Our strategy has always been to seek funding from a position of strength and on a stage-by-stage basis.
“With five external funded studies underway in addition to our internal drug development programs for octreotide and fentanyl, we feel confident in moving forward. Preliminary data from these studies, together with a vaccine feasibility study with the UK’s National Institute of Biological Standards and Control, is already extremely encouraging.”