Rx Bandz Secures Leonid Capital Partners Investment for FDA Submission
Deal News | Jan 13, 2025 | EIN
Rx Bandz, a development-stage medical device company specializing in auto-injectors, has secured funding through a term loan facility from Leonid Capital Partners. This comes after the company received $23 million in military grants from the US Air Force. The investment is pivotal for Rx Bandz's plan to seek FDA approval for its MiniJect device, initially intended for delivering epinephrine. The company aims for a late 2026 FDA submission, advancing its project without human clinical trials due to existing military grants, which utilize funds for testing and studies. Leonid Capital Partners' investment strategy involves leveraging government contracts to support growth in sectors related to national security. Rx Bandz is focused on innovating in areas such as battlefield medical care and civilian medical needs, with plans to expand into delivering other critical medications like ketamine and hydromorphone.
Sectors
- Medical Devices
- Pharmaceuticals
- Venture Capital & Private Equity
Geography
- United States – Rx Bandz is based in Fairfield, NJ, and the article mentions interactions with the US Air Force and FDA, indicating significant operations within the United States.
Industry
- Medical Devices – Rx Bandz operates within the medical devices industry, focusing on developing innovative auto-injectors for delivering medications efficiently.
- Pharmaceuticals – The development and formulation activities of Rx Bandz, including delivering biologics and vaccines, connect the company to the pharmaceutical industry.
- Venture Capital & Private Equity – Leonid Capital Partners is a private equity firm providing financial support, showcasing its involvement in the venture capital and private equity industry.
Financials
- 23,000,000 – USD amount received in military grants from the US Air Force.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Rx Bandz Inc. | Target | Company | A medical device and therapeutics company developing patient-centric auto-injectors, focusing on military and civilian needs. |
| Leonid Capital Partners | Bidding Company | Company | A private equity firm providing a term loan facility to Rx Bandz, leveraging government contracts as lendable assets. |
| US Air Force | Grant Provider | Government | Provided $23 million in military grants to Rx Bandz, aiding in the development of the MiniJect. |
| Jessica Walsh | CEO | Person | Founder and CEO of Rx Bandz, leading the company's strategic and operational initiatives. |
| Harsha Murthy | Chief Strategy Officer | Person | Chief Strategy Officer at Rx Bandz, playing a key role in planning the FDA submission and development strategy. |