As reported by the Milwaukee Wisconsin Journal Sentinel, FluGen a "Madison company that is trying to develop a safer flu vaccine, has landed $7.8 million of funding that should allow it to being one of its leading technologies into human clinical trials this year.
Knox LLC of Las Vegas, the investment vehicle for a wealthy University of Wisconsin-Madison alum, led the funding round.
FluGen will use the money to fund a Phase I clinical trial for its vaccine delivery device, a micro-needle skin patch the size of a poker chip the company says is more effective and less painful than standard needle injections. In the trial, FluGen will use a vaccine that already is on the market, said Paul Radspinner, the company's president and chief executive officer.
The patch promises to make vaccines more effective in older people because it delivers them into the skin, which is able to maintain immunity longer than the rest of the body, Radspinner said. It will also be less invasive, and therefore less scary, for children, he said."
The Journal Sentinel article also pointed out the encouraging business environment in Wisconsin.
"The climate for capital formation and investment in bioscience innovation in the state of Wisconsin is strong and likely to attract substantial additional outside investment interest in the months and years to come…" Mancheski said.
http://www.jsonline.com/business/116603133.html
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