PassPort Technologies

What PassPort Technologies does

PassPort Technologies, Inc. is a privately held, clinical-stage biotechnology company developing a proprietary transdermal microporation drug delivery platform. The company was spun out of Nitto Denko Corporation in July 2019 and operates as a member of the Taisei Kako Group, with a US headquarters in San Diego, California and a wholly-owned Japan subsidiary established in 2022. Its core product, the PassPort System, is a device-plus-patch platform that uses a pulse of energy to painlessly ablate the stratum corneum under porator filaments, creating aqueous microchannels in milliseconds that enable delivery of small molecule drugs, peptides, proteins, carbohydrates, nucleotides, and vaccines from a conventional skin patch, materially expanding the molecular scope beyond the ~500 dalton limit of passive transdermal patches.

The company's lead internal candidate is Zolmitriptan PassPort for acute migraine, which initiated a US Phase 1 trial in February 2024 and reported positive interim results in March 2024 showing plasma detection at 2 minutes versus approximately 15 minutes for oral zolmitriptan and relative bioavailability of approximately 160 to 200% versus oral tablets. PassPort has filed Investigational New Drug applications in both the United States and Japan and is advancing its lead CNS therapeutic candidate in the US under the 505(b)(2) regulatory pathway. Beyond its internal pipeline, the company pursues external programs with Axcelead Drug Discovery Partners, Arcturus Therapeutics (combining its microporation system with Arcturus' LUNAR lipid-mediated delivery technology for mRNA vaccines and therapeutics), and a network of Japanese academic collaborators including Hokkaido University, Tokyo University of Science, Josai University, Tokyo Denki University, and Tohoku University Hospital.

PassPort operates a B2B go-to-market model, generating revenue through technology licensing, co-development partnerships, and future milestone and royalty arrangements with pharmaceutical partners ranging from multinationals to specialty pharma groups. Pricing for end therapeutic products is determined by commercializing pharmaceutical partners rather than by PassPort directly. The company has a small operating team (1–10 employees), has not disclosed external funding rounds, and is currently pre-commercial, with revenue not publicly disclosed. It was recognized by Medical Tech Outlook as a Top 10 Drug Delivery Solution Provider in 2022 and received a 2020 International Catalyst Award from the U.S. National Academy of Medicine Healthy Longevity Global Competition for related Alzheimer's research.

Name

PassPort Technologies

Legal name

PassPort Technologies, Inc.

Website

https://passport-tech.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

PassPort Technologies is a clinical-stage biotechnology company developing a patented transdermal microporation platform that enables needle-free delivery of small molecules, peptides, proteins, and vaccines, licensing the technology and co-developing candidates with pharmaceutical partners and Japanese academic institutions.

Ownership category

akta.pro rank

Product category

Transdermal Drug Delivery Technology

SIC

Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Wearable Injectors & On-Body Delivery Systems (HLAHAIAE)

akta.pro secondary industry

Drug Delivery Connectivity, Sensors & Digital Add-Ons (Smart Caps/Companion Apps) (HLAHAIAM)

Keywords

• Transdermal drug delivery
• Microporation technology
• Needle-free drug delivery
• Pharmaceutical technology licensing
• Active transdermal patches

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Technology Licensing: Licensing the PassPort transdermal microporation technology platform to pharmaceutical companies for drug delivery of approved therapeutics and new drug candidates. The company collaborates with partners to formulate and assess drug candidates using the proprietary system.
2. Co-development Partnerships: Collaborative R&D arrangements with pharmaceutical companies and academic institutions to develop transdermal formulations of therapeutics using the PassPort System. Revenue generated through development milestones and eventual commercialization.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

PassPort Technologies develops and licenses the PassPort® System, a patented active transdermal microporation platform that painlessly creates aqueous micropores in the stratum corneum within milliseconds via a disposable porator, enabling needle-free delivery of small molecule drugs, peptides, proteins, carbohydrates, nucleotides, and vaccines from a conventional skin patch. The company monetizes this platform through B2B technology licensing and co-development partnerships with pharmaceutical companies and academic institutions, and is advancing an internal pipeline led by Zolmitriptan PassPort® for acute migraine treatment.

Product overview

PassPort Technologies offers the PassPort® Novel Transdermal Drug Delivery System as its core technology platform, which enables needle-free drug delivery through advanced microporation technology. The system consists of an applicator device with a disposable porator that painlessly ablates the stratum corneum to create microchannels, allowing drugs to flow from a transdermal patch into systemic circulation. The platform supports both immediate and sustained delivery formulations and includes a new feature for electronic medication adherence control. The lead product candidate is Zolmitriptan PassPort® for acute migraine treatment, currently in Phase 1 clinical trials.

Differentiator

Problem solved

Functional benefit

Products and services

• PassPort® Novel Transdermal Drug Delivery System Patented active transdermal microporation platform consisting of an applicator device with a disposable porator that painlessly ablates the stratum corneum under each porator filament to create aqueous micropores within milliseconds, enabling needle-free delivery of small molecule drugs, peptides, proteins, carbohydrates, nucleotides, and vaccines from a conventional skin patch. Licensed to pharmaceutical companies for drug repositioning and new drug candidate formulation.
• Zolmitriptan PassPort® Lead product candidate using the PassPort® microporation system to deliver zolmitriptan for acute migraine treatment. In Phase 1 clinical trials in both the United States and Japan under filed INDs, demonstrating faster onset and higher relative bioavailability than oral zolmitriptan tablets.

Quantifiable outcome

• Zolmitriptan detected in plasma 2 minutes after transdermal administration vs 15 minutes for oral tablets
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Arcturus TherapeuticscoreStrategic or Co-development Partner · 18 December 2023Collaborative research combining PassPort transdermal microporation system with Arcturus's lipid-mediated delivery technology LUNAR (used in Kostaive, the first self-amplifying mRNA COVID vaccine approved in Japan) to provide new options for mRNA vaccines and therapeutics.
• IP GaiaminorGTM or Marketing Partner · 5 June 2023Strategic business agreement aimed at enhancing business activities and fostering relationships with third parties around PassPort's transdermal microporation system and pipeline.
• Josai UniversityminorStrategic or Co-development Partner · 1 March 2022Collaborative research published in European Journal of Pharmaceutical Sciences on enhancement of skin permeation using transdermal microporation technology.
• Tokyo Denki UniversityminorStrategic or Co-development Partner · 14 May 2020Strategic research program in collaboration with Tohoku University Hospital (CRIETO) focusing on transdermal microporation system for drug delivery research.
• Tokyo University of ScienceminorStrategic or Co-development Partner · 1 April 2020Joint research to develop therapeutics using the PassPort System and innovative transdermal microporation technology for delivering drugs including anticancer therapeutics.
• Hokkaido UniversityminorStrategic or Co-development Partner · 18 October 2019Joint research to develop Alzheimer's drug using the PassPort System for transdermal administration of therapeutics through the transdermal microporation platform.
• Axcelead Drug Discovery PartnerscoreStrategic or Co-development Partner · 1 October 2019Comprehensive collaborative partnership in the field of drug discovery service using the PassPort System. Aimed at maximizing R&D pipeline value by providing a new modality for drug delivery.
• Nitto Denko CorporationcoreStrategic or Co-development Partner · 1 July 2019Spin-out from Nitto Denko Corporation in July 2019 to advance R&D efforts for commercialization of the PassPort transdermal platform. Nitto Denko had developed the core technology.
• Nitto Denko / Whiz Partners (Drug Discovery Gateway)coreStrategic or Co-development Partner · 1 July 2019Nitto Denko Corporation and Drug Discovery Gateway Investment Limited Partnership (operated by Whiz Partners Inc.) formed an alliance to accelerate commercialization of the Zolmitriptan PassPort transdermal microporation system.
• Taisei Kako GroupcoreOthersPassPort Technologies is a member of Taisei Kako Group, indicating a parent-subsidiary or group company relationship.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Zosano Pharma: Zosano Pharma developed a transdermal microneedle delivery system with a zolmitriptan patch candidate (Qtrypta), making it the most directly comparable platform to PassPort for transdermal acute migraine therapy and a head-to-head microporation/active-patch alternative.
• Noven Pharmaceuticals: Noven is a specialist developer of transdermal drug delivery patches (subsidiary of Hisamitsu) and a long-standing CNS transdermal player (e.g., Daytrana), directly comparable to PassPort in delivery modality and B2B pharma partnership model.
• Corium: Corium develops transdermal drug delivery systems and patches for CNS and other indications, directly comparable to PassPort's transdermal platform technology and pharma-partner business model.
• Dermavant Sciences: Dermavant develops topical and transdermal drug delivery treatments (e.g., tapinarof cream, VTAMA), a peer in non-oral, non-injectable delivery with a similar B2B pharma licensing approach.
• BioDelivery Sciences International: BioDelivery Sciences developed drug delivery formulations using its BEMA (BioErodible MucoAdhesive) transmucosal platform and licensed them to pharma partners, directly comparable to PassPort as a B2B drug delivery platform licensor.

Broad incumbents

• Hisamitsu Pharmaceutical: Hisamitsu is the largest transdermal patch company globally (Salonpas, Daytrana via Noven) and parent of Noven Pharmaceuticals, making it a broad incumbent peer across the same delivery modality, though far larger and more diversified.
• LTS Lohmann Therapie-Systeme: LTS is one of the largest transdermal and oral thin-film contract developers globally, an incumbent partner/CDMO in the same transdermal drug delivery space where PassPort licenses its technology to pharma.
• Halozyme Therapeutics: Halozyme is a publicly traded drug delivery company licensing its rHuPH20 subcutaneous delivery platform (ENHANZE) to major pharma partners, directly comparable as a B2B drug delivery platform licensor with a milestone- and royalty-driven revenue model.
• Nitto Denko: Nitto Denko Corporation is the Japanese materials and life sciences company from which PassPort Technologies was spun out in 2019, with the core microporation technology originating inside Nitto, making it a related corporate parent and broader incumbent in transdermal R&D.

Emerging players

• Lexaria Bioscience: Lexaria is a small public company developing DehydraTECH, a non-oral delivery platform with applications across transdermal and oral drug administration — an emerging player with platform-level drug delivery technology overlapping PassPort's modality and licensing-style commercial model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/passport-tech

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PassPort Technologies