Google Ventures was the lead in securing Series B Funding for Rani Therapeutics but VentureHealth, a crowdfunding portal for accredited investors, also participated in this private offering.
VentureHealth is a portal that allows qualified investors the opportunity to participate in life science deals that are traditionally only available to venture capital groups. Co-founder Mir Imran is also the Chairman and CEO of Rain Therapeutics which was developed in InCube Labs – also founded by Imran.
Rani Therapeutics has developed a platform to convert injectable drugs, including TNF-alpha Inhibitors and basal insulin, into pills. The company has demonstrated double-digit bio-availability in pre-clinical studies. The funding will support the further development of the company’s novel approach for the oral delivery of large drug molecules including peptides, proteins, antibodies, RNAi therapies and select vaccines.
“We are keenly aware of the magnitude of the problem we are solving, and the potential impact this technology could have on the market,” said Mir Imran, Chairman & CEO, Rani Therapeutics. “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.”
“The oral delivery of large molecules is considered the Holy Grail of drug delivery,” said Blake Byers, Google Ventures partner.
“Mir Imran and InCube Labs have a proven track record for solving some of the most challenging problems in medicine. At Google Ventures, we often say that we invest in entrepreneurs who want to change the world, and our investment in Rani is a perfect example of that mission at work.”
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