"The RaniPill has the potential to transform major markets where patients must endure frequent and often painful injections," said Mir Imran, founder and CEO of the startup business. "With this breakthrough platform, capable of creating orally available therapeutic antibodies, peptides, and proteins, we could impact millions of patients worldwide."
Late last year, the startup company brought in $69 million from investors in support of the business during a successful series E round. Investors backing the biotech startup company include GeneScience Pharmaceuticals, GV, and Novartis, among others. Since the founding of the startup business in 2012, the biotech company has raised over $211 million in funding from investors.
Skipping the Needle
The biotech business seeks to encourage patients to follow through with their prescribed medication. However, many existing treatments are only available through injection delivery methods. The startup company claims that patients are more likely to comply with treatments administered orally rather than by injections. Thus, the biotech business developed a pill capable of performing the injection internally.
The robotic RaniPill looks just like a typical capsule-style pill. Once the capsule safely transports the medicine to the intestines, the shell begins to dissolve and injects a small needle into the intestinal wall to distribute the drugs. The intestinal wall is highly receptive to the treatment due to the abundance of veins in that region of the body. Furthermore, it also lacks sharp pain receptors, so the patient does not feel any discomfort during the process. The rest of the materials are either dissolved or safely passed through the body.
“Millions must take injections to slow the progression of their condition,” Imran said. “With pills, compliance is much higher than with injections which helps slow down chronic diseases.”
Revolutionizing the Drug Delivery Market
The pharmaceutical industry generates trillions of dollars every year. Rani’s startup company is attempting to disrupt the drug delivery market with a novel delivery mechanism while simultaneously improving the treatment process for patients.
Market research projects the pharmaceutical drug delivery industry to value over $1.7 trillion by 2026. The biotech business will continue to develop its technology with the support of interested investors in the biotechnology and pharmaceutical industries.
About the Author
James White is a Michigan State University graduate with a B.S. in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.