SAN JOSE, Calif., May 10, 2019 /PRNewswire/ -- Rani Therapeutics, creator of the robotic RaniPill™ capsule designed to replace injections of large drug molecules including peptides, proteins, and antibodies, today announced that Svai Sanford has joined the company as its first Chief Financial Officer. Reporting directly to Rani Therapeutics' Chairman & CEO, Mir Imran, Sanford will be responsible for the company's finances, accounting, administration and investor relations as Rani moves into its next phase of growth.
Sanford brings more than two decades of experience as a finance and operations executive across the biotech, pharmaceuticals and technology industries where he led acquisition, IPO, and financing strategy and execution at companies including SFJ Pharmaceuticals, VIVUS Inc. and Elan Pharmaceuticals (acquired by Perrigo Co.).
"Svai has a proven record of leading companies through rapid growth both domestically and internationally, and we are excited to add an executive of his caliber to the team," said Imran. "In addition to his experience at both startups and publicly traded companies, Svai shares our passion for the potential of the RaniPill capsule and the impact it could have on patient care."
The CFO announcement follows the company's recent news revealing the results of the first human study to test the safety and tolerability of the RaniPill capsule. The successful human study builds on more than 100 pre-clinical studies testing the RaniPill capsule's delivery of drugs such as insulin and Humira into the wall of the small intestine, where Rani has demonstrated 100% equivalence with injections.
"There is an enormous market potential for the RaniPill capsule to replace painful injections of many drug molecules which will benefit patients across a wide range of therapeutic areas, including diabetes, psoriasis, Crohn's disease, rheumatoid arthritis, hemophilia, among others. I am delighted to join the Rani team during this exciting time, as we prepare for our first human studies that will test the RaniPill with a drug," added Sanford.
About Rani Therapeutics
Rani Therapeutics has developed a robotic pill that is designed to replace injections of large drug molecules including peptides, proteins, and antibodies. Rani has raised over $142 million in funding from GV, the investment arm of Alphabet Inc., and other major venture investors, and has partnered with Novartis and Shire Pharmaceuticals, among others.
The research and technology behind Rani Therapeutics came out of InCube Labs, a multi-disciplinary life sciences R&D lab focused on breakthrough medical innovations. InCube is led by Mir Imran, a prolific medical inventor, entrepreneur, and investor. Mir has founded more than 20 life sciences companies and holds more than 400 issued and pending patents in the U.S. Mir has dedicated his 40+ year career to creating and commercializing innovations that have a profound impact on the lives of millions of patients. For more information, please visit www.ranitherapeutics.com.
Consort Partners for Rani Therapeutics
SOURCE Rani Therapeutics