 The needle and syringe was invented 160 years ago and most vaccines are delivered that way. Vaccines are hugely successful technology. Millions of lives have been saved with vaccines but there's many problems associated with the needle and syringe. Obvious ones include needle phobia. Not many of us like the needle and indeed 20% of the population have a thing called needle phobia where they're actively choosing not to be vaccinated. Another issue is needle stick injuries. 1.3 million deaths per year take place due to problems associated with needle stick injuries. Here at Vaxus we're developing an approach to overcome those problems and indeed other problems with the needle and syringe and we call it the nanopatch as a silicon wafer with 10,000 tiny projections that are invisible to the human eye. We dry coat vaccines to the tips of those projections and apply the patch to the skin for only a short period of time, a minute or two and then we remove the patch and dispose of it. So beyond the obvious issues like needle stick injuries and needle phobia there's two major advantages associated with the nanopatch. The first is improved immune responses and the second is removing the cold chain. So let me explain how vaccines work. So vaccines take a thing like a germ and get it into a safe form and we inject those into the body and we trick the body into mounting an immune response so that when the real invader comes along the body can already deal with those invaders and indeed neutralize them. Now the way it's currently done is that the antigens which are these safe forms of germs are injected with a needle and syringe into muscle. What we've found is that the skin is a far more attractive site for vaccines. It's jammed full of immune cells and by accessing that skin site with the nanopatch we've unlocked improved capabilities. One example of that is removing or indeed I should say reducing the dose that's required from a standard vaccine. We can reduce the dose by 100 fold for instance so taking a vaccine that might cost $50 down to the cost of 50 cents. So that's one example to help make existing vaccines work better but another approach is to help get new vaccines over the line so for instance we could improve the immune responses for an HIV vaccine or a malaria vaccine and those vaccines don't currently exist. So that's a huge advantage of the nanopatch. Finally I'd like to mention perhaps the most exciting elements of the nanopatch. When the vaccine is in dry form it does not need refrigeration. We've shown that we can store the nanopatch at 23 degrees Celsius for 12 months with no loss in activity. That potentially can remove the need for the cold chain for vaccines. Currently billions of dollars are being sunk into maintaining the cold chain. Imagine if we can divert that funding into other areas of health care. Here at Vaxis we're motivated by a mission to help improve the reach of vaccines to people that need them the most. Currently there's 17 million deaths per year due to infectious disease. With this device the nanopatch we hope to help make that level of death a historical footnote.