wearable medical devices maker Enable Injections has closed $30m in Series A funding to commercialize its patient-focused drug delivery product, the Enable Injector.
The round was led by ORI Healthcare Fund (ORI Fund).
The company claims that Enable Injector is a small lightweight pain- and error-minimizing device taht adheres to the body during the treatment and delivers biologic doses that are as large as 50ml with the push of a button.
It can be an alternative or replacement to costly intravenous infusions found in healthcare setting and can reduce overall healthcare costs. At the same time, it can positively impact patient outcomes.
At present, biologics are being used to treat a range of diseases including numerous cancers, autoimmune diseases and genetic disorders as well. Most biologics have to be injected in doses larger than 5ml.
By using Enable’s injectors, these biologics can be easily delivered to the patient. A typical syringe can deliver not more than 1ml. Subcutaneous injection of biologics is being preferred as the delivery method, but may not be feasible without the new technology.
ORI Fund founder Simone Song said: "For delivering high volume biologics, Enable Injections is the pioneer that can change the standard of care.
“It is very fulfilling to invest in Enable's technology, which brings value to all key stakeholders in the healthcare world–patients, providers and payers."
The injector can also benefit the pharmaceutical industry by enabling easier development of stable, bioavailable, clinically-relevant biologics formulations at lower cost.
Enable Injections president and CEO Michael Hooven said: “We are delighted to be working with ORI, CincyTech and our syndicate partners to bring Enable’s technology to our pharma partners and their patients.”
Image: Enable Injections Closes $30M Series A Financing Led by ORI Healthcare. Photo: Courtesy of Business Wire.