Crowdfunding campaign invites public to invest in needle-free injection platform
CHICAGO, IL, USA, December 14, 2022 /EINPresswire.com/ — NovaXS Biotech Corp. (NovaXS), developers of an in-home and needle-free drug delivery platform, is inviting the public to invest in its innovative solution to simplify the drug delivery process for the 22 million people who suffer from chronic diseases like diabetes, infertility, growth hormone deficiencies, allergies, and more. NovaXS is holding a crowdfunding campaign to raise $1 million. The campaign is on the heels of successfully securing $1.5 million in its seed funding round earlier this year, winning numerous startup pitch competitions and building strategic partnerships with healthcare institutions to conduct preclinical studies on its product.
â€œPain, fear and stress should not be part of the medical treatment process for the millions that suffer from chronic conditions,â€� said Alina Su, CEO and Founder of NovaXS Biotech Corp. â€œGrowing up I watched my sister Kathy endure 3 needle injections a day and sadly this experience is not unique to my family. Thatâ€™s why NovaXS is transforming the way we think about injections and the entire drug delivery process.â€�
NovaXSâ€™ solution, called Telosis, addresses three problems with the current drug delivery process and the 50% medical treatment adherence rate that causes between $100 and $300 billion of avoidable healthcare costs in the United States annually.
1. Low patient tolerance: As many as 2 in 3 children and 1 in 4 adults have a fear of needles and 27% of children avoid needle treatments. Telosisâ€™ needle-free technology delivers medication using liquid pressure within 0.3 seconds.
2. Low accessibility: Many treatments are only administered in hospitals, making travel a barrier to receiving medication. Telosis is an in-home treatment device giving patients a remote hdrug delivery option.
3. Lack of monitoring: In-home medication administration errors rates can be as high as 33%. Telosis includes a mobile app for dosage monitoring, treatment schedules, and reminders. It also allows the patient to ask their care provider questions and for doctors to provide feedback to avoid errors.
â€œWith one click of a button, NovaXSâ€™ solution promises to administer medication in a pain-free way,â€� said Jonathan Xing, COO and Founder of NovaXS.
â€œMillions of people suffer from chronic diseases and our mission is to make the treatment easier for them. We are proud to be backed by institutional and corporate venture capitalists and look forward to extending the opportunity to invest in our company to those who have been touched by chronic illness and those who want to transform healthcare delivery.â€�
The platform includes a physical needle-free injection device that syncs with a mobile app to simplify in-home drug administration and share patient data with care providers in real time.
â€œAccess to reliable, real-time data means healthcare providers can make the right calls at the right time- reducing the need for costly interventions,â€� said Sean McKibbon, Director of Doctor Relations for NovaXS. â€œI have over 20 years of experience in the healthcare industry, and until NovaXS I hadnâ€™t seen an all-in-one solution that addresses so many of the challenges hospitals face when it comes to improving patient outcomes and driving down healthcare costs.â€�
Funds raised during the campaign will help enhance product development and support International Review Board studies and clinical validation for FDA clearances.
â€œStories like Alinaâ€™s are far too common. We need to rethink how we approach drug delivery to make to more accessible and easier. NovaXS has the solution with endless possibilities that can serve people with diabetes, allergies, growth hormone deficiencies, infertility and more,â€� said Chris Holliday, Board Advisor to NovaXS and Senior Advisor for Obama Venture Board.
The team behind NovaXS is led by Alina Su, a UC Berkeley graduate who holds six patents and is currently pursuing a PhD in Regenerative and Clinical Medicine at Harvard Medical School.
â€œThe team at NovaXS wants to change the world and they have all right players to do it,â€� said Darvin Ham, Head Coach for the LA Lakers and champion for NovaXSâ€™ healthcare solutions. â€œThe sheer talent, brain power, and market experience behind Telosis is staggering, and most importantly theyâ€™re passionate about what theyâ€™re doing.â€�
The crowdfunding campaign for NovaXS starts in December and will be hosted on Republic, an equity crowdfunding platform in the US. To receive updates and to invest, visit https://republic.com/nova-xs.
About NovaXS Biotech Corp.
NovaXS Biotech is on a mission to make medication self-administration as easy as making morningÂ coffee. Led by a professional team in healthcare with a proven track record ofÂ over $40 million fundraising experience and 5 successful business exits, NovaXS is a smart medical device startup focused on advanced drug delivery and usersâ€™ long-term health. Its patent-pending technology, Telosis, is a needle-free drug delivery platform that allows patients to self-administer biologics subcutaneously or intramuscularly and track long-term treatment progress through IoT integration and software APP. NovaXS is enrolled in Berkeley SkyDeck, mHub MedTech Accelerator, USC Troylabs and Newchip Accelerator and its investors include Baxter, Edward-Elmhurst Health, Courtyard Ventures, mHub Product Impact Hub, Newgen Venture Partners and others. To learn more about the technology and product updates, visit www.novaxs.co.Â
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