CAMBRIDGE, Mass., Jan. 29, 2021 /PRNewswire-PRWeb/ -- Vaxess Technologies, a preclinical biotechnology company developing vaccines for both COVID and seasonal flu based on Vaxess's proprietary MIMIXTM smart release patch, has recently appointed Mr. Ted Hibben to the position of Chief Business Officer. Mr. Hibben will be responsible for business development and corporate strategy at Vaxess, as the lead MIMIX platform program advances this year towards a Phase 1 proof-of-concept trial.
"The MIMIX platform is unique in enabling sustained release of a wide range of molecules in a convenient, shelf-stable patch format, of particular anticipated value for antigen delivery," said Vaxess CEO Michael Schrader. "As Vaxess moves the first program into the clinic, we're excited to work with Ted to expand the pipeline into a broad range of prophylactic and therapeutic programs in infectious diseases, oncology and beyond."
Mr. Hibben joins the Vaxess team after serving as Chief Business Officer at Cerevance, where he contributed to the company's oversubscribed $65M Series B funding round and led the partnering effort resulting in the company's first funded R&D collaboration. Prior to Cerevance, Mr. Hibben held business leadership roles at the therapeutic platform technology companies Catabasis Pharmaceuticals, Ensemble Therapeutics, Cequent Pharmaceuticals, and Coley Pharmaceutical Group. In these roles, Mr. Hibben formed and managed numerous financial transactions and partnerships totaling over $2 billion in value. He has also generated nearly $1 billion in trade sales, mergers and IPOs at these companies, including the $233M sale of the vaccine platform company Coley Pharmaceutical Group to Pfizer.
"I have been watching Michael and colleagues for a long time, and now is the time for me to jump into Vaxess," said Mr. Hibben. "The team at Vaxess has substantially advanced the unique capability of the MIMIX platform for both stabilizing and steadily releasing bioactives which now presents a multitude of immediate medical and commercial opportunities. I look forward to effecting pharma partnering, strategic focus, and fundraising to complement the tens of millions in non-dilutive and venture funding ably raised to date."
Vaxess is currently developing a seasonal protection patch to deliver vaccines for both COVID and seasonal flu. The patch will use the company's sustained release MIMIX platform, and offers the only shelf-stable, self-applied approach to addressing an endemic COVID.
About the MIMIX Smart Release Patch Platform
Medicine delivery, redefined. The MIMIX patch delivers medicines and vaccines through a number of tiny, painless projections that dissolve at a precisely engineered rate, releasing their treatment at its most effective dose for the most beneficial length of time. Vaxess has validated performance and compatibility with a range of molecules including proteins, killed viruses, mRNA, hormones, and live viruses.
More effective medications start with MIMIX. The MIMIX platform is designed to dramatically improve efficacy of products across a broad range of therapeutic areas by either prolonged exposure of a therapeutic molecule or, in the case of vaccines, "mimicking" the prolonged exposure period that occurs during a natural infection. This prolonged exposure triggers a stronger and more enduring immune response.
Seamlessly painless. The MIMIX patch is simply pressed onto tissue. After a few minutes the tape-like patch is painlessly peeled off, leaving an imperceptible matrix of medication reservoirs that diffuse their contents over time.
About Vaxess Technologies
Vaxess Technologies is a biotechnology company headquartered in Cambridge, Massachusetts. The company is developing its proprietary sustained release smart delivery technologies to meet the need for more efficacious and easy to administer medical products. For more information, please visit the company website at http://www.vaxess.com or send any additional inquiry to [email protected].
Danielle Reisley, Vaxess Technologies, +1 6177143682, [email protected]
SOURCE Vaxess Technologies