Windgap Medical has raised $12 million from 106 investors as part of a $27 million round, according to a document filed with the SEC.
The Watertown, Mass.-based company is developing an epinephrine auto-injector designed to treat severe allergic reactions.
Windgap Medical is reportedly working on a product that can withstand harsh temperatures and can be easily stored in a user’s pocket. In an interview with Allergy Eats, co-founder & CTO Brent Buchine described his company’s technology as “the next generation of epinephrine autoinjectors.”
It’s a solution that would likely be welcomed with open arms by consumers. A number of leading epinephrine auto-injector manufacturers reported shortages last year and the price of Mylan’s EpiPen has risen sharply over the last decade.
Also today, Novartis (NYSE:NVS) division Sandoz launched its Symjepi epinephrine pre-filled syringe in the U.S. as an alternative to epinephrine auto-injectors.
Sandoz described Symjepi as an “affordable” alternative to EpiPens but did not disclose the product’s price.
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