Jefferies injects $ 10 million into ApiJect and HHS national syringe pumping network
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A company created to provide safe and inexpensive pre-filled syringes to developing countries is revealing its expertise in the United States with the help of HHS and its first investor and financial promoter.
Jefferies Financial Group has invested $ 10 million in efforts to build up to eight finishing filling facilities in the United States that could produce hundreds of millions of syringes for emergencies such as the COVID-19 epidemic. In addition to seed capital, Jefferies said it provides expertise to help find investors for the company announced last week by Health and Social Services.
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HHS reward a $ 450 million grant to Stamford, Connecticut, ApiJect to create the system he calls Fast Aseptic Injection Drug Packaging. RAPID aims to enable the strategic national stock to quickly fill and complete hundreds of millions of pre-filled syringes in a short time.
Our support for RAPID puts us where all the leadership companies belong to the front lines of the war on this global threat, said Jefferies in a statement attributed to CEO Rich Handler and President Brian Friedman. We need to be sure that when therapies and vaccines for COVID-19 become available, health care professionals will have the resources and the capacity to deliver them quickly and effectively on a massive global scale.
ApiJect Ltd. was founded in 2015 by social entrepreneur Marc Koska, who had already spent decades working to prevent deaths in developing countries from the reuse of contaminated needles. Koska invented the ApiJect device so that it can be used by healthcare professionals everywhere. The company describes it as a compact, prefilled, low-cost, flexible single-dose syringe made using Blow-Fill-Seal (BFS) technology. ApiJect uses subcontractors from around the world to produce them.
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ApiJect will take care of the R&D, prototyping and stability tests of certain medical countermeasures of the national strategic stock to manage a response to overvoltages at the population level. HHS has not only entrusted ApiJect with the responsibility of creating the manufacturing network throughout the year, but also of finding the investments and the philanthropic money to build it.
As vaccines and therapies become available, we must not be short of our ability to provide emergency medicines to Americans in need, “said HHS secretary Alex Azar, announcing the project he’s been working for a year. ” The creation of RAPID is the right decision at the right time, both for urgent national immediate public health needs and for the long term. “
