WATERTOWN, Mass., Jan. 24, 2019 /PRNewswire/ -- Windgap Medical, Inc. announced today that it has finalized a deal to enable a strategic investment from Molex Ventures, LLC, a subsidiary of Koch Industries ("Molex Ventures"). Molex Ventures will be investing into an investment round in Windgap led by the Boston-based firm of Shepherd Kaplan Krochuck, LLC.
Windgap and its manufacturing partners are commercializing its ANDIPen® wet/dry autoinjector platform. The first product using this platform will be epinephrine for the treatment of anaphylaxis.
"Windgap's novel epinephrine autoinjector, based on its ANDIPen® platform, is designed to address many unmet patient needs like portability, temperature stability, ease-of-use, cost-effective, and a possibility of higher patient compliance," said Chris Stepanian, Windgap's CEO and co-founder. "Funding from Molex Ventures shows the strength of our ANDIPen® drug delivery platform. This investment helps Windgap get our epinephrine autoinjector to review by the FDA and then the market that much faster. We are working hard to provide patients at risk of anaphylaxis and their healthcare professionals a new and innovative option."
"Windgap's drug delivery platform has the potential to positively impact the healthcare industry by addressing stability issues experienced by patients where drugs are highly sensitive to the environment while streamlining the supply chain to help enable a more consistent supply of products," said Lily Yeung, vice president, Molex Ventures.
Windgap's products have not been reviewed by the FDA but the Company intends to seek approval, first, for its epinephrine product for anaphylaxis.
ABOUT WINDGAP MEDICAL
Windgap Medical, Inc. is an emerging, privately-held pharmaceutical company in the Greater Boston area focused on developing patient solutions utilizing its patented wet/dry drug delivery platform. Its first product is for the administration of epinephrine for anaphylaxis with additional products under development in a number of additional markets. Find more information on www.windgapmedical.com.
ABOUT MOLEX VENTURES
Molex Ventures, LLC, a subsidiary of Molex Electronic Technologies, LLC, proactively identifies companies, startups and technologies aligned with emerging and expanding markets for Molex product solutions. The group oversees the company's venture and early stage investment pipeline and processes. By directing industry and compliance expertise, global design and manufacturing capabilities, equity investments, venture capital and licensing rights, Molex Ventures helps to bring early stage technologies from concept to commercialization to market expansion. Find more information on www.molexventures.com.
For Media Inquiries:
Windgap Medical, Inc.
Chris Stepanian, 1 617-440-3311
Chief Executive Officer
Molex Ventures, LLC
Christa Carroll, Senior Vice President
Outlook Marketing Services
SOURCE Windgap Medical, Inc.