Rani Therapeutics, a US-based oral biotherapeutics company which has developed an approach for converting injectable drugs into pills, has closed its series B funding round of an undisclosed amount, reported to be over $10m, led by Google Ventures, the corporate venturing division of internet search firm Google; the round included the participation of life sciences venture fund InCube Ventures, the venture arm of US-based research and development lab InCube Labs, and VentureHealth, a healthcare crowdfunding portal.
The funding will support the further development of the company’s approach for the oral delivery of large drug molecules.
Mir Imran, chairman & chief executive officer of Rani Therapeutics, who also leads InCube Labs and who has founded more than 20 life sciences companies, said: ” 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 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.”
Blake Byers, Google Ventures partner, said: “The oral delivery of large molecules is considered the Holy Grail of drug delivery. 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.”