Rani nabs $69M Series E for its stab at a robotic pill to replace injectable drugs
Rani Therapeutics has tapped the venture well again, this time raising a sweet $69 million for its push to make injectable medicines go down in a more delightful way.
The San Jose, CA-based biotech is working on a robotic pill — dubbed the RaniPill — that’s designed to replace injectable drugs like insulin. Rani says the Series E round, which brings its total raise to $211 million, will go straight into clinical development and manufacturing for the candidate.
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