MNS, a UK-based medical technology company developing next-generation, needle-free drug delivery solutions, has announced the close of an oversubscribed financing round.
The round attracted participation from a group of notable institutional and angel investors, including Pioneer Group, SFC Capital, Cambridge Angels, Southern Angel Investor Club and Sheffield Angels, alongside strong follow-on support from existing shareholders. Proceeds from the financing will be used to progress MNS’s lead asset, powered by the company’s proprietary Miracus technology, into first-in-human clinical trials, to be delivered in collaboration with the NHS this year.
This milestone represents a significant step forward in MNS’s journey toward the clinical validation and commercialisation of its Miracus needle-free delivery platform. The Miracus technology is designed to enable painless, self-administered and low cost delivery of medicines, addressing long-standing challenges associated with traditional needle-based administration, including patient acceptability, access and logistics.
Commenting on the announcement, Henry Dunne, CEO of MNS, said: “This funding is a real testament to the hard work the team has put in over the last couple of years building and validating the Miracus platform, a pain-free patch delivery system that costs less than traditional needles and eliminates the need for cold chain storage. I am pleased at the breadth and depth of investors joining us in our mission to provide patients, clinicians and industry with better options for drug delivery that improve global access to medicines. This funding will support the preparation and delivery of our key first-in-human trial this year.”
Dr Glenn Crocker, MBE, Executive Director of Pioneer Group, added: “It has been so satisfying to see the MNS team come through the Pioneer Accelerator programme and develop the business to this stage in just two years. The progress made is a huge credit to the hard work and dedication of the founders. We were delighted to follow our initial pre-seed investment with funding in this round and look forward to seeing this exciting technology brought to market soon.”
Michael Theodosiou, Portfolio Manager of SFC Capital said: “SFC Capital is excited to support MNS fundraising again as it advances its needle-free delivery solution for vaccines and biologics. This follow-on investment from SFC’s EIS Fund reflects the strong progress made by the team, led by co-founders Henry Dunne and Ian Bartenev, including product performance and industry engagement. The company is now focused on delivering clinical validation in partnership with the NHS. We look forward to their route to market and the many ways their technology can be applied to improve access and clinical outcomes.”
At MNS, the mission is to reduce health inequalities and improve access to medicines by enabling alternatives to needle-based drug delivery. For more than 200 years, the needle and syringe have remained largely unchanged; MNS is working to help define what comes next through the development of its Miracus technology platform.
