Enable Injections, a health tech firm behind a pioneering drug delivery system, has raised US$215m to advance the system into the lives of more patients.
Enable’s enFuse system uses drug delivery technology designed to subcutaneously (SC) deliver large volumes of up to 50mL for a wide range of therapies and diseases.
It is designed to provide patients and providers a safe, convenient, and cost-effective alternative to IV administration.
Enable ultimately aims to increase healthcare provider efficiencies, minimise patient exposure in the clinic, and reduce healthcare costs, with the aim of benefiting patients and healthcare providers worldwide.
CEO and president Mike Hooven said the funding: “will help enFuse continue to redefine intravenous drug delivery by meaningfully scaling our development and commercialisation efforts”.
He continued: “This will help us reach even more patients who depend on intravenous medications and, we believe, significantly improve their lives.”
CFO and EVP Tim Flaherty said: “This financing will provide additional resources to onboard important new pharma partner programmes and accelerate our commercialisation programmes and platforms with existing pharma partners.”
The series c financing was led by Magnetar Capital, with new institutional investments from GCM Grosvenor, Squarepoint Capital, Woody Creek Capital Partners, and other investors.
Enable received “significant continued support” from existing investors including Cincinnati Children’s Hospital Medical Center, CincyTech, Cintrifuse, and Ohio Innovation Fund.
Enable Injections, based in Cincinnati, US, is an investigational-stage company developing and manufacturing on-body subcutaneous drug delivery systems designed to improve the patient experience, support superior outcomes, and advance healthcare system value and economics.
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