Enable Injections, a startup that develops and manufactures on-body delivery devices that allow patients to self-administer high volume and/or high viscosity therapeutics, has completed a first closing of a Series B round that will raise up to $50M, led by Sanofi, a Bridgewater, NJ-based global biopharmaceutical company. ORI Healthcare Fund, CincyTech, Cincinnati Children’s Hospital, Cintrifuse, Ohio Innovation Fund, Cleveland Clinic and other “key private investors” also contributed.
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The company’s devices, which are available with or without a connected component, look to avoid inconvenient IV drug delivery.
“We are delighted by the level of enthusiasm and financial support from Sanofi and our existing investors as we scale from our existing clinical production to high-volume, large scale commercial manufacturing of our enFuse™ drug delivery platform,” said Michael D. Hooven, President and CEO of Enable Injections.
Biologics now make up the majority of top selling medications and drugs in pharmaceutical company pipelines for treating various forms of cancers, autoimmune diseases and genetic disorders. A large number of biologics now-a-days are required in doses exceeding 5mL. Their high volume and viscosity currently require costly, inconvenient intravenous (IV) administration. Subcutaneous injection of biologics is the preferred delivery method, which is currently not as feasible without new technology, such as Enable enFuse.
Enable’s enFuse drug delivery platform, which is currently available to pharma and biotech companies for investigational use, delivers a controlled flow of up to 50 ml of a biologic through an automatically inserted needle. This easy-to-use device is attached to the skin by patients themselves, and a simple press of a button triggers needle insertion and retraction, reports MobiHealthNews.
The company, through a partnership with Flex, offers a form of the drug delivery platform that may connect to smartphones via Bluetooth.
“Enable Injections has made significant progress and is now a clinical stage company with its initial products in human clinical trials,” said John Rice, PhD, Enable Injections Board Member and CincyTech Director of Life Sciences. “This financing will enable the company to advance to a commercial scale and bring its first products to market. The investment and partnership with Sanofi provide that commercial validation.”
