Rani Therapeutics™ announces Collaboration with Major Pharmaceutical Company
-- Rani to formulate and test selected biologics using its proprietary oral biotherapeutics drug delivery platform
SAN JOSE, California, May 26, 2015 /PRNewswire/ -- Rani Therapeutics announced today that it has entered into a collaboration with Novartis to evaluate Rani's novel oral biotherapeutics drug delivery platform. The companies have agreed to begin feasibility studies to evaluate how selected Novartis' proprietary biologics can be delivered into the bloodstream using Rani's unique route of administration. After successful completion of the feasibility studies, which will be conducted by Rani Therapeutics over the next 18-24 months, Novartis will have the right to enter into a more extensive collaboration with Rani and/or license Rani's technology for specific fields of use.
Founded in 2012 and spun out of InCube Labs, Rani has developed a technology platform to convert injectable drugs such as TNF-alpha Inhibitors, interleukin antibodies, and basal insulin among others into pills. The company has demonstrated similar exposure to subcutaneous injections in pre-clinical studies, and has recently begun developing partnerships with pharmaceutical companies to test its platform with selected drugs.
"The delivery of large molecules orally is considered the holy grail of drug delivery, and there have been many failed attempts before us. We understand the magnitude of the problem we are pursuing, and we are confident that our approach has the potential to radically change the way biologics are administered to patients," said Mir Imran, Chairman & CEO, Rani Therapeutics. "We are delighted to be embarking on this journey with Novartis, one of the world's largest and most successful pharma companies."
In addition, Novartis also participated in Rani's Series C equity round. Previous investors include Google Ventures, InCube Ventures and VentureHealth.
About Rani Therapeutics
Rani Therapeutics has developed a novel approach for the oral delivery of peptides, proteins and therapeutic antibodies, which to date can only be delivered through injections. The approach and technology for Rani Therapeutics was created at InCube Labs, a multi-disciplinary life sciences R&D lab focused on breakthrough medical innovations. InCube is led by Mir Imran, a prolific medical inventor, entrepreneur and investor. For more information, please go to www.ranitherapeutics.com.
Contact: Stephanie McGrory, +1-408-457-3730, stephanie@incubelabs.com
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