HONG KONG, CHINA--(Marketwired - Oct 5, 2016) - ORI Healthcare Fund L.P. ("ORI Fund") announces the completion of US$30 million Series-A investment in Enable Injections Inc. (the "Company" or "Enable"), a Cincinnati-based medical device company focusing on developing and manufacturing wearable medical devices that enable patient self-administration of high volume biologic injectables. ORI Fund is the lead investor in the series, syndication members include CincyTech, Cincinnati Children's Hospital Medical Center, Ohio Innovations Fund and Cintrifuse.
The platform technology developed by Enable Injections will allow subcutaneous injection of up to 50ml of any biologic injectables. While utilizing original primary drug containers that minimize risk, costs, and time-to-market, the Company's injector system includes a simple, intuitive transfer mechanism and a low profile auto-injector that offers the best user experience.
The Company is currently in discussion with over ten pharmaceutical companies on partnering opportunities and has already signed development and manufacturing contracts with CSL Behring. The investment from Series-A investors will help the Company further its business development efforts.
The transaction is consistent with ORI Fund's investment philosophy to invest in innovative companies that can significantly improve the existing standard of care. "We believes that there is significant market demand for bolus injectors. With respect to delivering high volume biologics, Enable Injections will be the pioneer who can change the standard of care. It is very fulfilling to be able to invest in Enable's technology that bring value to all key stakeholders in the healthcare world, patients, providers and payors", commented Ms. Simone Song, Senior Partner of ORI Fund.
"ORI's connections and deep knowledge and understanding of the rapidly developing biologic space is an ideal complement to Enable's extensive medical device experience. We are delighted to be partnering with ORI Fund in building our business to allow patients to conveniently self-administer high volume biologic drugs," commented Mike Hooven, the CEO of Enable Injections.
About ORI Healthcare Fund
ORI Fund is a US$200 million venture capital fund focused on investing in innovative companies with disruptive technologies in the healthcare industry globally. The fund is founded by Ms. Simone (Hong Fang) Song, former investment banker and head of China Healthcare at Goldman Sachs. The team consists mostly of former Goldman Sachs bankers and healthcare scientists.