Investment to Accelerate Development of Breakthrough Oral Biotherapeutics Platform
SAN JOSE, Calif., May 26, 2015 /PRNewswire/ -- Rani Therapeutics today announced it has closed its Series C round of funding. Participants included Novartis, Google Ventures, InCube Ventures, a life sciences venture fund, and VentureHealth, an online venture fund, as well as a number of additional investors.
"We are entering into an exciting new stage of growth for Rani, and this funding will help us continue to de-risk our platform and create the manufacturing infrastructure we need for clinical trials and beyond," said Mir Imran, Chairman & CEO, Rani Therapeutics. "We are committed to delivering on our promise to radically transform how biologic drugs are delivered to millions of patients, and this financing is an important step forward."
The company also recently announced a collaboration partnership with Novartis, including feasibility studies to evaluate how selected Novartis proprietary biologics can be delivered into the bloodstream using Rani's unique route of administration.
"Today we are in an age where advances in life sciences are increasing at an unprecedented rate," said Blake Byers, General Partner at Google Ventures. "We are excited by the team's strong track record in pre-clinical studies and look forward to the day Rani will improve the lives of patients."
Other investors in this financing include The Stevanato Group, Crystal Horizon Investments, Pinemount Investments, and Pacific Venture Opportunity Fund, as well as Buttonwood Funds, which joined as a follow-on investor.
About Rani Therapeutics
Rani Therapeutics has developed a novel approach for the oral delivery of peptides, proteins and therapeutic antibodies, which to date can only be delivered through injections. The approach and technology for Rani Therapeutics was created at 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. For more information, please go to www.ranitherapeutics.com.
Contact: Stephanie McGrory, 408.457.3730, [email protected]
SOURCE Rani Therapeutics