Biotechnology start-up Vaxxas has signed a research collaboration with major US pharmaceutical company Merck to further develop its Nanopatch platform for a future vaccine candidate.

 

Federal Minister for Industry and Innovation, Greg Combet, congratulated Vaxxas.

 

"This collaboration reflects the potential significance of Vaxxas' Nanopatch - it may one day change the way vaccinations are administered," Mr Combet said.

 

"The deal is further evidence of the capability of Australian companies and their innovations. International partnerships and collaborations like these demonstrate the talent in our biotechnology sector."

 

Under the agreement, Merck will pay an upfront fee and will provide funding to Vaxxas to conduct research evaluating the potential of using Vaxxas' Nanopatch platform for a Merck vaccine candidate. Vaxxas will also be able to receive additional payments based on the achievement of milestones and future vaccine sale.

 

The Nanopatch technology is a ground breaking needle-free method of delivering vaccines, and uses as little as one hundredth of the usual dose while eliminating any need for refrigeration.

 

Vaxxas was formed in August 2011 by a $15 million syndicate of venture capital funds. Three of these - One Ventures, Brandon Capital Partners, and the Medical Research Commercialisation Fund - are licensed under the Australian Government's Innovation Investment Fund.