Boston — Anodyne Nanotech Inc., a clinical-stage biotechnology company developing transdermal treatments for chronic conditions, has raised $12.6 million in a Series A financing.
Velocity Partners VC led the round, with Evercurious VC serving as co-lead and Relativity Healthcare Partners providing major participation.
The financing will support a Phase 1 clinical trial of ANN-101, Anodyne’s once-weekly GLP-1 patch for obesity. The company will also use the proceeds to expand its HeroPatch platform for delivering peptides, monoclonal antibodies and nucleic acid therapeutics, scale up manufacturing and pursue strategic partnerships.
“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 appointed Vikram Lamba to its board of directors. Lamba has more than 30 years of executive leadership and business development experience in the pharmaceutical and biotechnology industries.
He previously served as chief executive officer of Zosano Pharma, where he led a $425 million microneedle technology partnership with Eli Lilly and guided the company through its initial public offering. He also held senior mergers and acquisitions and corporate development roles at Bayer AG, including 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.”
