This week, PKA SoftTouch fulfilled a huge milestone; we exceeded our minimum target raise of $250,000. As I sit down to write this article on a Thursday evening, we have attained $260,000 in capital from our Frontfundr crowd-equity raise with another $26,000 in processing. So far, 180 investors (now PKA co-owners/shareholders) have helped us achieve this equity boost and with another 64 days left in our campaign, we have our eyes set on the next milestone.
But first, let’s discuss what this additional $250,000 in equity investment represents to the company. We will now be able to conduct our final clinical trial on animals at the University of Guelph Animal Clinic, at a nationally renowned university for research on animals. The trial is to provide a proof of concept study comparing our micro-needle device against the gold standard in the injection industry; the syringe. The clinical trial will be performed under provincial research standards to protect animals from harm.
What happens at the proof of concept trials?
The proof of concept trials will compare the body’s reaction to the syringe injection verses a micro-needle device injection. This is achieved through a two-day trial on dogs on insulin-dependent animals. On the first day, four test dogs will be injected with insulin with a syringe, and another four test dogs will be injected with insulin in our device. On the second day, the injections are swapped. The group who were injected with insulin in a syringe, are now injected using our device. The group who were injected with insulin using our device, are now injected using the syringe.
The blood will be analyzed over a 24-hour period after each injection. If the pharma kinetics of the blood are the same, this proves that the effect on the body using the device is the same as that of the syringe. The device then works as intended.
On one of the days, another four research dogs will be selected. They will be injected with atropine, a heart-racing drug. The first two dogs will be injected with atropine with a syringe. The second two dogs will be injected with atropine with our device. Additionally, the heart rate of the dogs is recorded. If the recordings on the body are the same for all dogs, this also proves that the device works the same as the syringe.
Licensee negotiation process begins
The trial protocols are submitted to Health Canada for approval prior to the trial. Having Health Canada approve the trial will significantly enhance acceptance of the trial results by the pharmaceutical community. This will allow PKA to reconnect with interested companies who want to license the technology; which will actualize our ultimate goal of obtaining a revenue stream.
Once one potential licensee begins the negotiation process, the compatibility study proceeds. The potential licensee would send a small sample of their approved drug to be tested for compatibility with our device. A company that specializes in these test procedures would check if the drug is compatible with our “bubble” (the membrane of containing the drug inside our device) and checks that the membrane is compatible with the drug. After that, short-term and long-term stability testing would be implemented. Success of the above process would result in a lucrative license agreement and thus begin our revenue stream.
Animal Clinical Trial success leads to Human Clinical Trial success
The animal clinical trial success can be used to interest human drug companies and will enhance our success in approaching them. A second proof of concept human clinical trial will be necessary to secure a license agreement with a human drug company.
Conclusively, the $250,000 equity boost is a significant step forward in bringing our technology to market. There’s still time to invest and become a PKA co-owner. Shares are $0.20 each with an entry-level investment option from $250 and upwards. You can invest online via https://www.frontfundr.com/PKASoftTouch
PKA SoftTouch Corp. is a leading-edge research and development company that has created a unique, proprietary device; the PKA SoftTouch Micro-Needle. This revolutionary device will replace the outdated syringe in drug applications for the pharmaceutical, healthcare and veterinary industries by offering pain-free medication and vaccine delivery. Equity in PKA SoftTouch is now available https://www.frontfundr.com/PKASoftTouch