Rx Bandz Announces Leonid Capital Partners Investment

Funding Supports Company's Expansion in Preparation for FDA Submission

FAIRFIELD, NJ, UNITED STATES, January 13, 2025 /EINPresswire.com/ -- Rx Bandz Inc., a development-stage medical device and therapeutics formulation company announced today that it had entered into a term loan facility provided by Leonid Capital Partners. The amount and terms of the term loan were not disclosed.

The facility was offered to Rx Bandz in recognition of the company’s receipt of $23 million in military grants from the US Air Force, which the company announced in October 2024.

Jessica Walsh, Founder and CEO of Rx Bandz, said, “We are honored that Leonid recognized the expertise of our team and the performance of our MiniJect^® in making a significant impact in the $120 Million market for auto-injectors.”

Ms. Walsh continued “Leonid understood that MiniJect is answering patients’ and the military’s need for a more convenient, smaller, easier-to-use, and rugged auto-injector that delivers critical medications in emergency or battlefield situations.”

Rx Bandz expects to submit its application to the FDA in late 2026 for an expedited approval of MiniJect to deliver epinephrine and then follow up with applications to deliver ketamine and hydromorphone, part of the programs covered by the military grants. The company is also developing formulations of its products that can serve commercial/private sectors’ needs for conditions such as post-partum hemorrhaging and depression. MiniJect’s robust design and proprietary technology allows for the delivery of small molecules as well as biologics and viscous therapeutics.

“We are grateful that Leonid’s facility provides Rx Bandz with additional funding to continue our focused development schedule for submission to the FDA of an NDA pursuant to Section 505(b)(2) for MiniJect in our first therapeutic indication of delivering epinephrine,” said Harsha Murthy, Rx Bandz’s Chief Strategy Officer and member of the company’s Board of Directors.

“With our master device file approved, we will be well-positioned with formulations that can take advantage of MiniJect’s unique technology to deliver therapeutics to civilian, military and first responders.” Murthy continued.

“Because Rx Bandz does not need to conduct any in-vivo human clinical trials, we are focusing our efforts on completing the manufacturing reliability testing and human factors studies necessary for our NDA submission. The runway provided by Leonid allows us to pursue our current Series A Preferred fundraising round in the aggregate amount of $8 million,” he said.

Leonid Capital Partners has carved out a unique niche by accepting government contracts as lendable assets, providing early-to-mid-stage companies with critical non-dilutive growth capital. The firm’s founders utilize their financial and industry expertise to structure flexible financing solutions that meet the distinctive needs of scientists, engineers, and innovators who are developing impactful technologies in support of the national security mission.

Leonid’s investments support a wide variety of contract types designed by the U.S. federal government to encourage research, service, and product solutions for critical areas of need.

About Rx Bandz/About MiniJect
Rx Bandz is a female-founded, privately-held company with its laboratory in Fairfield, NJ.
Rx Bandz is developing a versatile, next-generation platform of compact, patient-centric auto-injectors to deliver a wide range of injectable medications, from <1mL to 5 mL, for patients around the world. These include traditionally difficult to deliver biologics and vaccines. Its robust and growing pipeline is designed to treat numerous medical conditions.

Rx Bandz has a robust pipeline of proprietary technologies. It created a technology to protect glass drug cartridges inside the MiniJect and other auto-injectors, which can be out-licensed by device manufacturers and pharmaceutical companies. The company is seeing excellent test results for its concentrated formulation of tranexamic acid (TXA) for hemorrhage on the battlefield, in mass casualty situations, and accidents. Hemorrhage is the number one preventable death on the battlefield. TXA also reduces postpartum hemorrhage which affects 14 million women and kills 70,000 annually worldwide.

Learn more at www.rxbandz.com

About Leonid Capital Partners
Leonid Capital Partners invests capital into critical national security initiatives. The firm leverages its deep government and technical expertise to provide its portfolio companies with the flexible resources they need to grow their business.

Learn more at leonidfinance.io

Nothing herein shall be construed as, and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy or hold, an interest in any security or investment product in Rx Bandz.

Myrna Walsh
RxBandz Inc.
email us here