Pittsburgh-based startup SkinJect put together a $2.5 million equity round with 13 unnamed investors to fund continued development of a patch to treat skin cancers, according to an SEC regulatory filing.
Velocity Fund Partners, a Pittsburgh PE firm focused on promising opportunities in life sciences and health care services, made a significant investment in SkinJect when the firm launched in 2016.
The company is working on a thumb-sized device that features a dissolvable microneedle array to deliver drugs directly to top layers of the skin. It is designed to kill non-melanoma skin cancer by causing an immune system reaction to combat the disease, according to SkinJect’s website. The University of Pittsburgh licensed the patch in August 2016.