WATERTOWN, Mass., Jan. 20, 2022 /PRNewswire/ — Windgap Medical, Inc., a leading specialty pharmaceutical and drug delivery platform company, announced today that it has successfully completed its final close with over $39 million of Series B-1 equity financing, led by Taiwania Capital. This equity round of investment expanded beyond an initial target of approximately $32 million due to strong investor interest. This equity financing is also supported by existing investors, including Shepherd Kaplan Krochuk (SKK) and Molex Ventures (a Koch Industries company), along with new investors including Cobro Ventures, and others.
Windgap is working to commercialize its ANDI® wet/dry autoinjector platform, which would introduce a more compact, stable, temperature-resilient option for many medications currently in the marketplace. The first product to use this platform will be epinephrine for the treatment of anaphylaxis. Other pipeline products include a novel emergency treatment for cyanide poisoning that is sponsored by the National Institutes of Health through a multi-year CounterACT grant, led by the University of Minnesota Twin Cities.
"Windgap was gratified to see the strong investor interest, validating its technology and future prospects. We welcome the Cobro Ventures as a strategic investor and the ongoing support by SKK in our work to bring our epinephrine product to market, along with our partner ALK-Abelló," said Christopher Stepanian, Windgap’s CEO and Co-Founder. "This oversubscribed round allows us to energize our ongoing epinephrine commercialization process and grow our pipeline of additional products utilizing our autoinjector technology."
Brent Buchine PhD, Windgap’s Chief Technology Officer and Co-Founder, stated, "Windgap’s second drug delivery platform is in development for the administration of large-volume, high viscosity, therapies. This effort is supported by an ongoing NIH grant and is well suited for emergencies such as the treatment of cyanide poisoning. This unique device will also be valuable for other acute and chronic treatments where challenging-to-mix drugs frequently lack simple dosing options, such as biologics and extended-release therapies."
Windgap’s products have not been reviewed by the FDA, but the Company intends to seek approval, first, for its epinephrine product for anaphylaxis.
ABOUT WINDGAP MEDICAL
Windgap Medical, Inc. is an emerging, privately-held pharmaceutical company in the Greater Boston area focused on developing patient solutions with its patented wet/dry drug delivery platforms. Its first product is for the administration of epinephrine for anaphylaxis with additional products under development in a variety of markets. Find more information on www.windgapmedical.com and follow the company on LinkedIn.
For Media Inquiries:
Windgap Medical, Inc.
Chris Stepanian, +1 617-440-3311
Chief Executive Officer
SOURCE Windgap Medical, Inc.