Google Ventures Invests In Rani Therapeutics
Google Ventures has invested over $10 million in Series B funding into Rani Therapeutics along with InCube Labs and VentureHealth. Rani is working on an oral delivery method for injected drugs like insulin and TNF alpha-inhibitors.
The oral drugs are currently in pre-clinical studies and they are seeing double digit bioavailability. Technology used by Rani was developed at InCube Labs.
A major challenge in developing injectable drugs that can be taken orally is the destructive ability of the digestive tract, which prevents the oral drugs from getting into the bloodstream.
“We are keenly aware of the magnitude of the problem we are solving, and the potential impact this technology could have on the market,” stated Rani Therapeutics chairman and chief executive officer Mir Imran. “We are seeing tremendous results from our pre-clinical studies. Google Ventures’ investment is a great vote of confidence in our company, and we are looking forward to the next exciting phase in our development.”
[Source: MedGadget]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry