(MENAFN- ACCESSWIRE) Health Advance Partners Agree to Equity Stake in SingleTimeMicroneedles at a $3.5 Million Valuation
STORRS, CT / ACCESSWIRE / February 13, 2024 / Health Advance Partners , a leading healthcare and biotech investment firm, has taken an equity stake and closed the pre-seed round for SingleTimeMicroneedes, Inc. , a microneedle drug development and delivery company from Connecticut. Heath Advance Partners Joins SingleTimeMicroneedles
Health Advance Partners invests in STM
Health Advance Partners is a leading private equity firm dedicated to investing in innovative healthcare start-ups. We are committed to revolutionizing patient care and improving healthcare outcomes. Leveraging a team of seasoned investors and industry experts, Health Advance Partners provides strategic guidance and support to portfolio companies, empowering them to achieve sustainable success in an ever-evolving healthcare landscape.
SingleTimeMicroneedles (STM) has developed a drug and vaccine microneedle delivery platform that can revolutionize access to lifesaving pharma products in animals and humans. The microneedle patch temperature stabilizes drugs and vaccines to eliminate the need for cold-chain storage and transportation and are the only patches that can deliver doses immediately, over time, or separately over weeks/months in one application. The technology supports most types of vaccines and therapeutics, including large molecules, subunit protein-based antigens, vector-based vaccines, mRNAs, and any compound that benefits from multiple/longitudinal dosing. STM patches have broad applications and are being planned for use in animals and humans.
"Investing in an early-stage growing biotech/pharma company requires agreement on the long-term vision and a collaborative spirit, and for those reasons, we at STM are incredibly excited to welcome Health Advance Partners to the team," said SingleTimeMicroneedles CEO, Jasdeep Singh.
"This investment represents our commitment to supporting groundbreaking innovations that have the potential to transform the healthcare industry. We believe in the vision and capabilities of STM, and we are confident that together, we will drive positive change and improve patient outcomes. This deal exemplifies our dedication to advancing healthcare innovation and underscores our mission to make a lasting impact in the healthcare sector," said Dylan Bermes, CEO of Health Advance Partners.
SingleTimeMicroneedles has had an exciting start to 2024. STM has closed a large development deal with a top 10 EU-based veterinary and human pharmaceutical company, two co-development deals with start-up pharma companies to push the boundaries of veterinary vaccine development and delivery, and has been accepted into the University of Connecticut's Technology Incubator Program to support its initial operations.
STM has also been selected as a finalist at SXSW's 2024 pitch competition in Austin, Texas in March.
Name: Jasdeep Singh
Organization: SingleTimeMicroneedles, Inc.
Address: 1392 Storrs Road, Unit 4213, Storrs, CT 06269
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