Enable Injections Inc. said today that it closed a $30 million Series A round to bring its large-volume injector to market.
The Cincinnati, Ohio-based company’s Enable Injector adheres to a patient’s body and delivers biologic doses as large as 50 milliliters. It can be used at work or at home, providing an alternative to costly intravenous infusions in a healthcare setting, the company said.
The round was led by ORI Healthcare Fund, with CincyTech, Cincinnati Children’s Hospital, CintriFuse and Ohio Innovation Fund also participating in the financing.
Biologics, which make up the majority of top selling medications for many cancers and autoimmune diseases, are often required in doses exceeding 5 milliliters, according to Enable Injections. The typical syringe dose is 1 milliliter.
“For delivering high volume biologics, Enable Injections is the pioneer that can change the standard of care,” ORI Fund founder Simone Song said. “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.”
“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,” president & CEO Michael Hooven said in prepared remarks.
“Mike Hooven is a proven medical device entrepreneur who leads an outstanding team,” CincyTech CEO Bob Coy added. “The Enable injector has the potential to transform the delivery of a significant and growing category of drugs. It offers comfort and convenience to patients, a point of differentiation to pharmaceutical companies, and a reduction of costs to the health care system.”