American Injectables Announces Validation of its Tampa Operations

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Aug 29, 2022, 09:52 ET

American Injectables is now well positioned to help fill the gap in US-based manufacturing of sterile injectables to alleviate current drug shortages.
$19 million Series A fundraising, led by New Rhein, enables the Company to scale manufacturing capabilities, fund R&D and launch its first product.
R&D investment to grow pipeline of both generic and branded hospital products.

TAMPA BAY, Fla. , Aug. 29, 2022 /PRNewswire/ -- American Injectables is pleased to announce that the company has successfully completed the commissioning and qualification of its newly constructed facility in addition to the completion of Series A financing. Key accomplishments were qualifying the facility and utilities as well as completing the first successful series of media fills for the sterile core and vial filling line. During a recent interview, CEO Adam Levitt made these comments, "We are excited to start registration batches for FDA submission in the coming months and preparing for our first FDA inspection and approval."

Mr. Levitt went on to say, "I am further announcing the addition of Dr Vijay Nekkanti, VP R&D to the leadership team. Dr Nekkanti most recently was leading R&D for Humanwell and has held leadership roles with Custopharm, and Dr. Reddy's Lab and Pfizer. I am very excited about this new critical hire. American Injectables, Inc is now well-positioned with Integrated Product Development and Manufacturing engine that quickly and flexibly brings new products to market. With the addition of Dr. Nekkanti we have completed building a world class leadership team."

Chairman Subhanu Saxena said, "I am delighted to see American Injectables progress with this round of funding. This successful funding round reflects the success we've achieved through facility qualification and completion of media fills. The focus and dedication of the entire organization is to become an important US-based supplier of essential medicines to the acute care market, and to become a partner of choice for industry through their sterile manufacturing of vials and ready-to-use prefilled syringe products."

[Bourne Partners advised American Injectables in the fundraising.]

About American Injectables:

American Injectables is a US-based manufacturer of sterile injectable parenteral drugs with a world-class facility focused on ready-to-use pre-filled syringes and vials. The company's product line includes small molecule 505(b)2 and 505(j) ready-to-use syringe and vial products, and it serves as an out-sourced contract manufacturing partner for strategic pharmaceutical companies.

For complete information, visit: https://americaninj.com/

About New Rhein Healthcare Investors:

New Rhein applies a private equity business model to life sciences venture capital investing, focusing on proven assets used in new ways (i.e., new delivery forms, new indications) that offer compelling health economic value to payors. New Rhein combines significant deal-making expertise with deep operating experience; it takes significant stakes in a small number of companies and actively manages their value creation. In this way, New Rhein limits science-based risk and concentrates on development and execution. Prior investments have included medicines or medical devices for Alzheimer's disease, ophthalmic disorders, respiratory disease, critical care, urology and oncology. Our managing partners and advisors are former senior executives of leading pharmaceutical firms with outstanding operational and investment track records. For more information, see www.newrhein.com.

SOURCE American Injectables Inc.