Enable Injections Declares $25 Million Credit Facility Closed with Oxford Finance

Enable Injections Declares $25 Million Credit Facility Closed with Oxford Finance

Enable Injections is developing a novel technology to allow patients a safe, convenient, and cost-effective way to deliver their therapies outside of a clinical facility.

FREMONT, CA: Enable Injections, a company developing and manufacturing the enFuse platform of investigational wearable infusion devices, declared the completion of a credit facility for $25 million from Oxford Finance, a specialty finance firm that offers senior debt to life sciences and healthcare services companies worldwide. The funds would help with the scaling of high-volume manufacturing and achievement of major inflection points as Enable approaches commercialization.

Enable Injections is developing a novel technology to allow patients a safe, convenient, and cost-effective way to deliver their therapies outside of a clinical facility. Designed for ease-of-use, Enable Injections' enFuse is potential to enable patients to give themselves their medicine at the time and place of their choosing, aiming to minimize exposure to in-home or in-clinic administration by a healthcare provider, free up healthcare provider resources, and reduce healthcare costs traditionally assigned to biologic therapies. Enable Injections' enFuse on-body drug delivery platform is created for subcutaneous delivery of large volumes up to 50mL.

"Enable Injections has engineered an innovative injection platform that provides an opportunity to improve the administration experience for patients and reduce the costs of administration for payors," stated Christopher A. Herr, Senior Managing Director at Oxford Finance. "Oxford is pleased to provide the funds to Enable to support further development and commercial preparation initiatives for their momentous infusion devices."

"We are delighted to partner with Oxford Finance in this non-dilutive financing that allows financial flexibility, strengthens our cash position, and enables us to achieve major inflection points that will lead to our commercialization goals on terms that maximize long-term shareholder value," commented Tim Flaherty, Executive Vice President and Chief Financial Officer, Enable Injections. "We appreciate Oxford Finance's confidence in the enFuse® technology platform, which has the potential to provide patients and their caregivers an alternative delivery method for subcutaneous administration of parenteral therapies outside of a clinical setting."