Enable Injections Closes $30 Million Series A Financing Led by ORI Healthcare

Enable Injections Inc., developer of wearable large-volume injectors for subcutaneous delivery of biologics and high volume drugs, has closed $30 million in Series A financing. Enable Injections will use the round, led by ORI Healthcare Fund, to commercialize the company’s patient-focused drug delivery product, the Enable Injector.
 
The small, lightweight pain- and error-minimizing device adheres to the body during treatment, comfortably delivering biologic doses as large as 50 mL with the push of a button, no needle in sight. Used at home or work, it offers an alternative to costly intravenous infusions in a healthcare setting and is expected to lower overall healthcare costs while positively impacting outcomes by boosting compliance.
 
The injector also benefits pharmaceutical companies, making development of stable, bioavailable, clinically-relevant biologics formulations easier, faster, and less costly.
 
Biologics now comprise the majority of top selling medications for numerous cancers, autoimmune diseases and genetic disorders. Most biologics are required in doses exceeding 5 mL. By comparison, the typical syringe dose is 1 mL. Subcutaneous injection of biologics is the preferred delivery method but is not feasible without the new technology.
 
“For delivering high volume biologics, Enable Injections is the pioneer that can change the standard of care,” said ORI Fund founder Simone Song. “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.”
 
CincyTech, Cincinnati Children’s Hospital, CintriFuse, and Ohio Innovation Fund also participated in the financing.
 
“Mike Hooven is a proven medical device entrepreneur,” said CincyTech CEO Bob Coy. “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.”
 
Michael Hooven, president and CEO of Enable Injections, said: “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.”
 
ORI Fund, a $200 million venture capital fund, focuses on investing in companies with disruptive technologies in the global healthcare industry. The fund is founded by Song, a former investment banker and head of China Healthcare at Goldman Sachs. The team consists mostly of former Goldman Sachs bankers and healthcare scientists.
 
Founded in February 2010 by medical device industry veterans, Cincinnati, Ohio-based Enable Injections develops and manufactures wearable devices that allow easy, comfortable patient self-administration of large volume/high viscosity drugs for pharmaceutical and biotechnology industry investigational use. The Enable body-worn injector utilizes any standard container closure system, including syringe or vial; automatically warms and can automatically mix lyophilized solutions.