Innovodigm, a medical technology company headquartered in Kolkata, announced a ₹5.5 crore seed funding round led by the IAN Group, according to reporting by Entrackr. The company is developing a microneedle-based solution to improve the delivery of transdermal vaccines and biologics.
The company plans to invest its new capital in optimizing its process, scaling its infrastructure and expanding its team as it works to support third-party preclinical validation and gear up for clinical trials.
Innovodigm will expand its solution across India and other low- and middle-income countries, the Entrackr article stated. Its microneedle patch will be adapted for vaccines for measles, hepatitis and flu in addition to COVID-19 boosters. The company also plans to establish local manufacturing hubs.
