Enable Injections Secures $50 Million Series B Financing Led by Sanofi to Advance enFuse™ Drug Delivery Platform

VCBeat (WeChat: vcbeat) has learned that on October 25, 2018, local time, Enable Injections announced the closing of a $50 million expanded Series B financing round. The round was led by Sanofi, with participation from ORI Healthcare Fund, CincyTech, Cincinnati Children’s Hospital, Cintrifuse, Ohio Innovation Fund, Cleveland Clinic, and other private investors.

Enable Injections is a clinical-stage company developing a portfolio of wearable device products, dedicated to designing, manufacturing, and selling wearable devices for drug injection. Its initial product, the enFuse™ drug delivery platform, has entered human clinical trials. This round of financing will help Enable Injections expand its commercial scale and achieve large-scale commercial production of its first batch of products.

Image source: Enable Injections official website

Among the drugs sold by pharmaceutical companies for treating various cancers, autoimmune diseases, and genetic disorders, biologics predominate. Consequently, patients with these conditions require daily injections of large volumes of biologics, with an average dose exceeding 5 mL. Currently, the delivery of such high-volume, high-viscosity medications is typically administered via intravenous injection, a method that is not only costly but also highly inconvenient for patients. Although subcutaneous administration offers a more convenient alternative and is considered the preferred route for biologic delivery, technological immaturity and potential risks, such as infection, have prevented it from replacing intravenous injection or achieving widespread market adoption.

According to Enable Injections, its newly launched enFuse™ drug delivery platform can administer medications directly from standard vials supplied by all pharmaceutical companies, reconstitute powdered drugs into liquid form during injection, and facilitate the administration of highly viscous medications. Currently, no other drug delivery products on the market offer this combination of capabilities.

It is reported that approximately 900 new drugs currently in development may require the support of Enable Injections’ drug delivery technology. If this technology successfully reaches the market, the total addressable market is projected to reach $8 billion within ten years.

At present, Enable Injections’ main competitors include Germany’s Haselmeier, a developer of pen injectors and other self-injection systems; CeQur, a Swiss developer of commercialized insulin delivery systems; and the SHL Group, a drug-delivery giant based in Taiwan.

Enable Injections, founded in 2011 and headquartered in Cincinnati, Ohio, USA, is a clinical-stage company dedicated to the development and manufacturing of wearable drug delivery devices. Its products enable patients to easily and comfortably self-administer high-dose, high-viscosity medications, with dosage volumes ranging from 5 mL to 50 mL.

Sanofi is a healthcare company engaged in the research, development, manufacturing, and marketing of innovative therapeutic solutions. Founded in 2004 and headquartered in Paris, France, Sanofi’s business spans diabetes care, human vaccines, innovative medicines, consumer healthcare, emerging markets, and animal health. Its operations extend to more than 100 countries worldwide.