Rani Therapeutics, a San Jose, CA-based developer of technology to convert injectable drugs into oral pills, raised $39M in Series D funding.
GV (Google Ventures) is among the investors participating in this round, which brings total funding to over $100M.
Beyond GV (Google Ventures), investors include Novartis, Astra Zeneca, Cathay Ventures, Buttonwood, Crystal Horizon Investments, Pinemount Investments, the Pacific Venture Opportunity Fund, and Bossa Nova Investments.
The company intends to use the funds to accelerate to accelerate the clinical development of its platform, including scaling up manufacturing operations to support human studies which are planned to start in 2018.
Led by Mir Imran, Chairman & CEO, Rani Therapeutics develops needle-free delivery for pharma companies producing drugs for patients with chronic diseases, including diabetes, rheumatoid arthritis, psoriasis, among others. The company, which has partnerships with Novartis and Astra Zeneca, is also testing additional biologics internally.
Rani has a IP portfolio with more than 100 patents, including 42 issued or allowed.