Ohio Innovation Fund was among the shareholders who returned for Enable Injections’ latest round.
Enable Injections, a US-based medical device developer, has raised $215m in a series C round featuring Ohio Innovation Fund, the venture capital vehicle co-founded by Ohio State University, Ohio University and Kent State University.
Magnetar Capital led the round, which also attracted Cincinnati Children’s Hospital Medical Center, CincyTech, Cintrifuse, GCM Grosvenor, Squarepoint Capital, Woody Creek Capital Partners and unnamed others.
Enable Injections is working on a drug delivery technology that can inject as much as 50 millilitres subcutaneously. The company hopes its enFuse platform can serve as a convenient and cost-efficient alternative to intravenous administration.
Mike Hooven, president and chief executive of Enable Injections, said: “Enable Injections has seen a dramatic increase in demand for enFuse’s high-volume drug delivery technology. The funding from Magnetar will help enFuse continue to redefine intravenous drug delivery by meaningfully scaling our development and commercialisation efforts.
“This will help us reach even more patients who depend on intravenous medications and, we believe, significantly improve their lives. Magnetar, and its healthcare team, bring valuable industry expertise and an extensive network of financial and biotech contacts to Enable.
“We are excited to partner with Magnetar to grow the enFuse platform globally and achieve our shared vision of supporting next-generation patient-healthcare provider connections through an enhanced injection administration experience.”
Ohio Innovation Fund was among the backers of Enable Injections’ series B round in 2018 and series A round two years earlier.
