Date: Feb 26, 2013 Source: (
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CID4 has selected Aurora, Colorado-based AktiVax, Inc. to receive funding and management assistance. CID4 syndicated the investment with Boulder-based venture capital firm, High Country Venture. AktiVax is a development-stage medical device company, advancing development of their proprietary prefillable drug delivery devices for pharmaceutical markets. AktiVax is a tenant of the Bioscience Park Center at Fitzsimons which is also home to CID4.
"We are extremely excited about our investment in AktiVax which also gave us the opportunity to invest in a Fitzsimons' company and to co-invest with High Country Venture," said Richard Duke, Ph.D., Founder and Chief Scientific Officer of CID4. "AktiVax has novel technology that addresses a large unmet need for the pharmaceutical and biotech industries. People are excited when they see the product and understand immediately the potential benefit that it offers to the patient, physician and drug developer. We fully expect AktiVax to create high-tech manufacturing jobs here in Colorado," continued Duke, who will serve on the AktiVax board.
AktiVax is looking to establish itself as a leading global provider of prefilled drug, vaccine, and biologic delivery devices. Pharmaceutical companies are trying to transition away from the problematic vials and syringe system, and as a result the $2.5B prefilled syringe market has experienced double-digit growth in recent years. The AktiVax drug delivery platform has several key advantages over currently available prefilled syringes, including stability of drug in the packaging, simplicity and user acceptance, and manufacturing feasibility and cost.
The basis of the AktiVax product portfolio is ARCH (Aseptic Reconstitution Package Hybrid), a pre-fillable, flexible package made from high barrier material that resists moisture loss and oxygen ingress, and features a single, safe drug contact material during storage. ARCH can be configured to integrate with a variety of syringe types to form prefilled delivery systems at a much lower cost than currently available prefilled syringes. The company will seek to get its own products approved in the ARCH delivery system as well as partner with pharmaceutical and biotechnology companies to allow multiple therapeutics and vaccines to enter the market in ARCH delivery systems.
"We are very pleased that such a high quality investor as CID4 has shown confidence in our future prospects," said Amir Genosar, President and CEO of AktiVax. "The money and resources provided by CID4 will enable us to move forward with the development of our cutting edge ARCH technology."
Steve VanNurden, President and CEO of the Fitzsimons Redevelopment Authority added, "It's great to see one of our tenants secure funding from two of Colorado's premier early stage life science investors. This is a strong statement that the investment community recognizes the Fitzsimons Life Science District as the centerpiece of emerging life science companies in Colorado."
