After focusing on Gait Up, a Swiss #medtech startup, we keep on talking about health – our current hot topic as you can see on our ranking of the top 20 most promising French healthtech Startups published in Les Echos.
So dear readers, meet Microdermics, a Canadian #medtech startup rated by Early Metrics in December 2017.
Launched in 2014, Microdermics develops a hollow microneedle to replace traditional needles for biopharma industries. The company designs exclusively licensed custom devices such as syringes or patch systems.
Founded by Grant Campany, Boris Stoeber, Sahan Ranamukha and Iman Mansoor, their products allow for the reduction of the quantity of drug being used, by improving delivery efficiency and also smoothing the user experience. Microdermics addresses both Medium to Big pharmaceutical industries for various use cases such as vaccines or insulin injections.
The company main strengths rely on the market expertise of the founders who have had previous experiences in micro-needle projects and the innovation of the tech: metallic micro-needle at low cost. They also differentiate via their ability to build strong legal and technological barriers to entry.
Often the case for #medtech and #biotech startups, the project’s complexity requires long-term development periods. Thus, Microdermics closed a first fundraising of 1.3 million euros to develop its technology further. When it comes to commercialisation, Microdermics might also be challenged by the relatively strong dependency towards pharma companies.
Early Metrics looks forward to seeing what’s next and wishes the Microdermics’ team all the successes in the future!
The Early Metrics team