Does size matter in the autoinjector market? Windgap is betting that delivering smaller devices with longer shelf lives will give it an edge—and has parted investors from $17 million to realize its vision.
Massachusetts-based Windgap secured the funding on the strength of an Andipen autoinjector that it is applying to epinephrine, the hormone also known as adrenaline. Products such as EpiPen that deliver epinephrine to treat anaphylaxis are on the market and well established, but Windgap thinks it has identified ways to improve on the incumbents.
Using its thermally stable drug delivery platform, Windgap is aiming to create a product that is half the size and has double the shelf life of existing products. The wet/dry dual-chamber autoinjector platform automates rehydration and administration to deliver small-molecule doses of up to 0.3 ml. ALK-Abelló picked up global rights to the epinephrine autoinjector in 2019.
Windgap, which is also using Andipen in a treatment for cyanide poisoning, is working on a second drug delivery platform designed to administer doses of up to 4.5 ml. The second platform could set Windgap up to deliver biologics and high-viscosity injections intramuscularly or subcutaneously. With funding from the National Institutes of Health, Windgap is making the platform lyophilize-in-device compatible.
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In a statement to disclose the venture funding, Chris Stepanian, CEO and co-founder of Windgap, said the second platform “has value for both emergency antidotes and for hard-to-mix and hard-to-suspend drug-delivery applications.”
Taiwania Capital is supporting the work by taking the lead on a series B-1 financing. Existing investors including Shepherd Kaplan Krochuk and Koch Industries’ Molex Ventures also contributed. Windgap is now working to add a further $15 million through a second close over the next 90 days.
Explaining his decision to invest in Windgap, Michael Huang, managing partner of Taiwania Capital, said the delivery technology has particular value “where highly sensitive, life-saving drugs are impacted by the environment and supply chain complexity, enabling a more consistent supply of products.”