Healthcare Tech Startup PKA SoftTouch Surpasses Crowdfunding Goal For Micro-Needle Innovation
PKA SoftTouch Corp., the Canadian-based developer of its Microneedle, is nearing the end of its successful preliminary equity crowdfunding campaign, surpassing an early target of $110,870 sixteen days before the close.
This campaign situates the company well as it moves to an ultimate goal of $412,000 for animal clinical trials at the Ontario Veterinary College of the University of Guelph, ON of its painless, instantly disposable medication delivery system. These trials will be followed quickly by human clinical trials since the Micro-Needle works on both animals and humans.
The Micro-Needle is expected to cut deeply into the traditional needle injection market, via licensing agreements and milestone payments with pharmaceutical suppliers. The small, disposable cylinder-shaped device injects medication directly beneath the skin layer, avoiding the nerves that cause pain. It combines the applicator and drug in one pre-measured dose, which is injected directly into the skin. The device is comprised of a top cap with a plunger, inner chamber, bottom chamber, spring, and drug bubble made of special plastic film and a needle of pharmaceutical-grade stainless steel.
To date, 80 investors, many of them first-timers, have invested in the groundbreaking technology at FrontFundr. This early and successful raise will pay for the necessary revision of mechanical operability of the device, review of sterility and bubble-production procedures ensuring compatibility with regulatory protocols and maintenance of approvals of U.S. patent applications.
The Microneedle’s technology is timely thanks to the unprecedented global burden of chronic disease and the present pandemic crisis, which is crying out for an effective vaccine as the death toll climbs daily. The worldwide vaccine market was estimated at $779 billion before the onset of COVID-19 and the animal drug market in Canada is expected to reach $1.3 million by 2024.
Investors are drawn to both the moral purpose behind the painless lifesaving medication injection delivery and also to the excitement of being on the ground floor of the unique patented technology in its march to the pharmaceutical marketplace. Derek Green, Peterborough-based realtor, cancer survivor and PKA crowdfunding investor, says he looks for a level of empathy and human concern when investing that “goes deeper than the balance sheet, and the team at PKA SoftTouch has that.”
“This changes the game completely,” says investor Carol Raponi, district manager, Peterborough and Lindsay District Axe Clubs Inc. “The PKA Microneedle can transform vaccination time for children into a painless and stress-free process, and for any medication delivery requiring injection. It’s also exciting to get to jump on this technology early. Any technology that simplifies health care delivery and takes away worry will take off in the marketplace.”
About PKA SoftTouch
The PKA SoftTouch Micro-Needle addresses the increasing global need for humans and animals to administer lifesaving drugs in a painless, safe, inexpensive and simple manner. Patented worldwide, their pre-filled micro-needle technology is the only effective device that injects medication into the skin layers where there are no nerves and therefore no pain. Positioned to replace the traditional syringe delivery of drugs, they aim to enhance the quality of life for millions of users worldwide. PKASoftTouch is in its final weeks of financing on the FrontFundr platform and on-track to launching its final clinical trials. Those wanting to invest can find the campaign at https://www.frontfundr.com/PKASoftTouch.
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