Funding profile · Transdermal drug delivery
Avro Life Science
A Y Combinator Winter 2018 company that raised about $2.2 million in one reported seed round and has announced nothing since. It is a Canadian issuer, so the SEC file is empty by construction.
Data as of September 23, 2026. Company-reported figures are labeled.
Rounds at a glance
| When | Round | Amount | Investors | Source |
|---|---|---|---|---|
| 2016 | Velocity Fund award | $5,000 | University of Waterloo Velocity Fund | Incubator |
| Fall 2016 | Velocity Fund Finals | $25,000 | University of Waterloo Velocity Fund | University |
| 2016 to 2017 | Accelerator award | $10,000 plus support | Bayer Grants4Apps | Company-stated |
| Winter 2018 | Y Combinator batch | Standard YC terms, not disclosed | Y Combinator | YC directory |
| Jun 2018 | Thiel Fellowship, to Lakhani personally | $100,000 | Thiel Foundation | Incubator |
| Jun 2018 | Seed | $2.2M in the bank at the time of reporting | Led by Fifty Years; Susa Ventures, Garage Capital, Heuristic Capital, Embark Ventures, Uphonest Capital, Buckley Endeavours, plus angels | TechCrunch |
| By 2026 | Investor of record, round not disclosed | Not disclosed | Selvedge Venture, which lists Avro | Investor site |
| Jul 2018 to Sep 2026 | No further round reported | None | None | Not found |
What the filings show
SEC EDGAR · full text and company search · run Sep 23, 2026
- Form D filings
- None
- Filings of any type
- None. Full text queries for Avro Life Science, Avro Life Sciences and Avro Life each return 0
- Registrants named Avro
- 2, both unrelated
- Investment vehicles
- No SPV or fund filing names it
- Why
- The issuer is based in Ontario. Form D reports offerings made under Regulation D, a US exemption; a Canadian issuer relying on other exemptions files nothing with the SEC
- Filing
- SEC EDGAR, no CIK assigned
US and Canadian regulatory files · checked Sep 23, 2026
- FDA applications
- None. No NDA, ANDA or 505(b)(2), and no listed drug product
- FDA device records
- None. Zero 510(k) and zero PMA records
- Registered trials
- None. ClinicalTrials.gov returns 0 studies for sponsor Avro and 0 for the term OmniDerm
- Federal grants
- No NIH or NSF award; both fund US small businesses only
- Granted patents
- 2: US 10,576,043, Mar 3, 2020, and US 11,324,705, May 10, 2022
- Publications
- No PubMed record
Reading the filings
- An empty SEC file means nothing here.Avro is an Ontario issuer, and Form D is a notice of an offering made under Regulation D, a US exemption. US funds took part in the 2018 round, but the issuer used whatever exemption fit and owed the SEC no notice. The absence proves only that no Regulation D offering was noticed.
- The whole disclosed equity story is one line.$2.2 million, reported once, in a single TechCrunch article on June 29, 2018, and described there as what the company had in the bank rather than the size of the round. Six funds and unnamed angels are listed, no amount is attributed to any of them, no valuation was published, and no later round has been reported in the 99 months since.
- Roughly $140,000 of the early money was non-dilutive.$5,000 and $25,000 from the Velocity Fund, about $10,000 from Bayer Grants4Apps, and $100,000 from the Thiel Fellowship, which went to Lakhani personally and took no stake. That is most of what paid for the first patches.
- The spend has not produced a regulatory asset.Eight years after incorporation the file holds two granted patents and nothing else: no FDA or Health Canada application, no registered trial, no publication, no announced licensing deal. Capital has not yet converted into anything a buyer can price.
- Headcount points down, not up.Y Combinator lists team size 8; LinkedIn lists 2 to 10 employees. In March 2022 the company was hiring lab chemists and an animal technician for a new Kitchener headquarters, and the LinkedIn page still gives a Waterloo address. Nothing shows that build out being completed or funded.
- The pitch has moved to a more expensive problem.The 2018 business sold patches of approved generics, where only the delivery method needed proving. The 2022 to 2026 business delivers nucleic acid therapeutics into skin, a first in class path rather than a bioequivalence one, and it costs more than the money on record could cover.
Commercial signals
| Signal | Detail | Source type |
|---|---|---|
| Revenue | None disclosed. No approved or marketed product exists. | Not found |
| Partnerships | Bayer Grants4Apps accelerator, 2016 to 2017. In 2018 TechCrunch reported the relationship “may lead to a deeper relationship down the road.” No signed agreement has been announced. | Company-stated |
| Licensing model | A 2019 release said the company was “currently establishing co-development and licensing agreements with leading pharmaceutical companies prior to launching their own clinical programs in 2021.” No counterparty has been named. | Not borne out |
| Named programs | AVR 235 and AVR 335, on platforms called TopiqIL and TransdermIL, in the website navigation as of Sep 23, 2026. Indications and stage are not published. | Company-stated |
| Intellectual property | Two granted US patents covering a 4 to 8 cm2 water and sweat resistant patch and its casting method. Nothing granted since May 2022. | Public record |
| Press coverage | Independent coverage stops in 2018. The most recent company item found is an August 2019 release. | Not found |
What to watch
- A Canadian securities notice. An Ontario issuer selling exempt securities files a report of exempt distribution with the OSC, which is where a new round would first appear.
- A Form D, which appears only if a future round is offered into the US under Regulation D.
- A first regulatory filing on either side of the border for AVR 235 or AVR 335.
- A named counterparty for the licensing model described in 2019.
- Whether the Selvedge Venture holding is ever dated and sized.
The Avro Life Science story on Healthcare DiscoveryHealthcare Discovery
Related companies
Sources
- Public recordSEC EDGAR full text and company searches, no Avro filings
- Public recordUS Patents 10,576,043 and 11,324,705
- Public recordopenFDA, Drugs@FDA and ClinicalTrials.gov searches, all returning nothing
- IndependentReplacing pills with a Band-Aid? Avro Life Science thinks there’s a patch for that
- IndependentVelocity entrepreneurs win Thiel Fellowships
- IndependentAvro wins national runners up for the James Dyson Award
- InvestorAvro portfolio page
- CompanyJames Dyson Award 2017 entry, listing the Velocity and Bayer awards
- CompanyAdvancements television series press release
- CompanyAvro company page and Sarani hiring post
- CompanyAvro profile, Winter 2018 batch, team size 8
- CompanyAvro website navigation naming TopiqIL, TransdermIL, AVR 235 and AVR 335
Compiled from SEC, FDA, USPTO and ClinicalTrials.gov public records and published reports as of September 23, 2026. Form D notices report offerings under Regulation D; a non-US issuer that does not rely on that exemption files none, so an empty SEC record is not evidence about the amount raised. Healthcare Venture Capital Fund holds no position in Avro Life Science. This page is not an offer to sell or a recommendation to buy any security.
