PRESS RELEASE: She’s Independent announces an investment in biotech startup Rx Bandz

 

She's Independent and Rx Bandz

FOR IMMEDIATE RELEASE
April 3, 2024

BOULDER, Colo. and LOCUST VALLEY, N.Y. – She’s Independent, a member-led angel investing firm focused on supporting women-owned startups, announced today funding for Rx Bandz, a late-stage biotech startup developing novel drug-delivery systems for emergency and military medicine. Terms of the investment weren’t disclosed.

Rx Bandz is developing both patient-centric auto-injectors and drug formulations that can be used to deliver a wide range of injectable medications more easily, more conveniently and in more circumstances than current technology allows.

We aim to provide life-saving care by anyone, anytime and anywhere,” said Rx Bandz Founder Jessica Walsh. “We even tested MiniJect underwater, and it still works,” she said.

The company is targeting therapeutic areas that include noncompressible hemorrhages, which are the top preventable cause of death in the military, and a leading cause of maternal mortality globally. The company’s pipeline also focuses on treatments for pain and life-threatening allergies, and other therapeutics like biologics and vaccines. 

The company’s flagship drug-delivery platform, the MiniJect, is less than half the size of traditional auto-injectors like EpiPen. It is also extremely rugged, waterproof, and heat resistant, as well as faster and easier to operate. The needle completely retracts after activation in less than half a second, reducing the chance of injury. The company also makes OmniJect, for larger doses, and MultiJect for double doses.

This innovation was born out of necessity for Walsh.

“I was prescribed to carry auto-injectors with me at all times. They were very big and bulky, and there was no great way to carry them, especially when I went out for a run. I had to duct-tape them to my arms. I looked ridiculous.  I knew there had to be a better way,” Walsh said. “Sometimes you have to be the change you want to see in the world.  So, I created Rx Bandz to provide a life-saving solution for the millions of people who need to carry auto-injectors.”

Rx Bandz has already received more than $7 million from the U.S. military to develop the auto-injector to deliver different emergency medications on the battlefield. 

“Our investment group continues to show interest in deploying capital to frontier health technologies, and especially into products helping women. This marks our fifth syndication into a health-care business targeting a large addressable market,” said She’s Independent Founder and Managing Partner Natalie Levy. 

When the She’s Independent deal team made the decision to move forward with an investment in Rx Bandz, they noted the company’s strong technical leadership, growth potential, and supportive manufacturing partner. 

 “Throughout the due diligence process we were impressed with Jessica and her team’s commitment to building a business with saving lives as one of its core values, and this was reflected in the actions the company has taken thus far,” said Caroline Quanbeck, an investment member of She’s Independent.

The new funding from She’s Independent will support the Rx Bandz pipeline through further R&D, clinical evaluation, and taking drug-device combinations to market for military and civilian emergency-medical applications.

“Having the backing of She’s Independent will accelerate development of rapid therapeutics for events where every second matters,” Walsh said. “Its track record supporting female-led biotechs makes She’s Independent an ideal investment partner. We are proud to have been chosen and thrilled at what we can achieve together.”

ABOUT SHE’S INDEPENDENT

 She’s Independent is an angel investment group based in Boulder, Colorado, that aims to bring more women into the funding ecosystem and to support more women-focused startups. As a member-led investment group, She’s Independent offers an entirely new way to support women’s financial independence and influence through investments, access and education. The group’s goal is to close the power gap in investing by getting more women on the cap table, in the boardroom, and into positions of influence.

ABOUT RX BANDZ

Rx Bandz is a privately held biotech company based in Locust Valley, N.Y.  It is a late-stage multi-asset company with a growing pipeline of formulations and auto-injectors. Rx Bandz is developing the next generation of patient-centric auto-injectors to deliver a wide range of injectable medications for active patients around the world. Designed to treat numerous emergency medical conditions, its MiniJect auto-injector will initially focus on delivering epinephrine to treat anaphylactic shock. The device is the world’s smallest auto-injector that is safer, faster, and easier to use than traditional auto-injectors. Rx Bandz is formulating new drugs and developing auto-injectors that contain 1 ml to 5 ml of medications with various viscosities and molecular-size.
 

MEDIA CONTACTS:

She’s Independent
press@shesindependent.com  

Rx Bandz
myrna@rxbandz.com 



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