$10 Million Funding Focuses on Fentanyl Armour Nasal Spray Vaccine Development

OVAX Inc. is now emerging from stealth mode with an initial $10 million seed funding backed by its team, concerned parents, and mission-aligned investors. According to Pitchbook reporting, no enterprise valuation was disclosed.

OVAX is developing Fentanyl Armour nasal spray vaccine technology designed to stop fentanyl overdoses. Illicit fentanyl kills approximately 200 Americans daily.

Fentanyl is a synthetic opioid that is often added to illegal drugs, says the U.S. CDC.

The company offers a defense system that immediately neutralizes fentanyl upon exposure and blocks the euphoric effects, enabling the healthcare industry to prevent overdoses leading to death.

 On June 24, 2024, the company's media statement confirmed, 'Our vaccines (candidates) are designed to be taken a few times per year with several options in development, including a convenient nasal spray designed to be administered in the comfort of one's home, eliminating the requirement for a needle injection.'

The company licensed intellectual property from the University of Houston, Texas, which completed pre-clinical evaluations.

According to Ovax executives' comments, they plan to launch human clinical trials of Fentanyl Armour in 2025.

'We recognize that achieving our mission will require significant capital investment and a dedicated team. Additionally, OVAX will work alongside key collaborators at non-profits, governments, and communities dedicated to solving the fentanyl crisis,' wrote the company.

As of September 2024, there are no approved vaccines targeting fentanyl overdosing.