US-based drug injector developer Enable Injections closed a $30m series A round today led by venture capital fund ORI Healthcare Fund that included healthcare provider Cincinnati Children’s Hospital.
The round also featured public-private seed fund CincyTech, Ohio non-profit organisation CintriFuse and Ohio Innovation Fund, the $35m joint venture formed by Ohio State University and Ohio University.
Founded in 2010, Enable is working on lightweight wearable devices that will allow patients to self-administer up to 50ml of pharmaceuticals without a needle, by pushing a button. In contrast, syringes typically inject doses sized at around 1ml.
The company will use the capital to commercialise its Enable Injector. It had raised $10m of a $25m round from a single undisclosed investor, as of September 1 this year, according to a securities filing.
Prior to the September funding, Enable had closed $2m in equity funding in April 2016 and an additional $2m in August, according to regulatory filings, also securing $5.25m in debt financing this year. Partisan Management Group invested in the company at an earlier stage.
