Contracts Fund Development of MiniJect Auto-Injectors for Ketamine and Hydromorphone
We are answering their need for a more convenient, smaller, easier-to-use, and rugged auto-injector that delivers critical medications in often adverse conditions.”
— Jessica Walsh, Founder/CEO, Rx Bandz
FAIRFIELD, NJ, UNITED STATES, October 8, 2024 /EINPresswire.com/ -- Rx Bandz, a medical device company, announced today that the Air Force Research Laboratory awarded the company two development contracts totaling $23 million to deliver ketamine and hydromorphone in its MiniJect® auto-injector.
They were issued on behalf of Air Force Medical Readiness Agency (AFRMA) and will advance the development to FDA submission.
Rx Bandz has developed a platform of robust and compact auto-injectors and novel formulations to meet the needs of the military, EMS and patients for life-saving injectable medications in combat and civilian life.
Jessica Walsh, Founder and CEO of Rx Bandz, said, “We are thrilled to have the support of AFMRA on these contracts. The 59th Medical Wing, Air Force Special Forces Command and the Medical Modernization group have been strong champions in advocating our disruptive, life-saving technology to their Air Force colleagues.
“We are answering their need for a more convenient, smaller, easier-to-use, and rugged auto-injector that delivers critical medications in often adverse conditions.
“It is an honor to be chosen to help protect the women and men who put their lives on the line every day to keep our country safe, and we will execute these contracts with the same perseverance and determination shown by our military partners.
In other military contracts, the company is seeing excellent early results in its work to extend the shelf life of oxygen sensitive drugs, a technology that could save the military and civilian patients millions of dollars each year. Currently epinephrine auto-injectors are recommended to be replaced every 12 months. This is costly for civilians but especially for the US government which must replace its large stockpiles.
The company is also 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. An easy to administer injection of TXA could save their lives.
Rx Bandz has a robust pipeline of proprietary technologies. It created a system to protect glass drug cartridges inside the MiniJect, other auto-injector, and glass vials This technology can be out-licensed by device manufacturers and pharmaceutical companies. Its throttle technology allows MiniJect to administer high viscosity formulations, including biologics and vaccines, that are difficult for other auto-injectors to effectively deliver.
While developing the MiniJect for hydromorphone and ketamine, the Company will continue to move forward with its epinephrine auto-injector for patients with anaphylaxis, part of a global market estimated at $120B and growing.
Rx Bandz is currently raising funds in a Series A round to further support the development and regulatory approval of MiniJect for multiple therapeutic indications.
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 patient-centric auto-injectors to deliver a wide range of injectable medications for patients around the world. Its robust and growing pipeline is designed to treat numerous medical conditions. 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 as well as developing 1 ml to 5 ml auto-injectors for medications, including new biologics and vaccines.
For more information, see the Company’s website at www.rxbandz.com
Myrna Walsh at Myrna@RxBandz.com
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 WalshRx Bandz +1 617-347-3475
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