Jessica Walsh |
Interview with Jessica Walsh, Founder and CEO, Rx Bandz
By Caitlin Dolegowski, Marketing Manager, LSN |
Caitlin Dolegowski |
Caitlin Dolegowski (CD): Please introduce us to Rx Bandz and the company’s technology.
Jessica Walsh (JW): We created MiniJect®, the world’s smallest auto-injector, that is designed to deliver a wide range of injectable medications, including viscous biologics and vaccines, from 1 mL – 5 mL via intramuscular or subcutaneous injection. It’s easy to use, extremely rugged and reliable, waterproof, temperature resistant, and versatile.
We started out to deliver epinephrine targeting the huge global market of people who have severe allergies. We added work with the military, and our pipeline has expanded to include injectable medications to stop pain, hemorrhages, and other emergency conditions within the $55 billion auto-injector market.
CD: Tell us about the Rx Bandz team.
JW: We have an amazing team with decades of experience in engineering, drug development, and quality management. In addition, they have brought other auto-injectors to market. We started with a few core people and grew to attract world experts and strategic partners. They are experienced and smart, but also, they fit into our lean and agile way of working: mission-focused, collaborative, and supportive.
CD: Rx Bandz first attended a RESI conference in Vienna. How did you learn about the conference?
JW: We were just starting out when I received an email. It was my first international conference to present our auto-injector. I still recall the energy of the space and connecting with amazing people from our industry that attended the event from around the world. I still stay in touch with many of them. We have been very fortunate to have so many people who are enthusiastic about our technology and have supported our efforts.
CD: What stage of fundraising is Rx Bandz in and what were you looking to accomplish at RESI when you originally registered?
JW: We are currently raising our Series A round that will take us through FDA approval and commercialize MiniJect. This is a high-growth opportunity for investors who have an interest in making healthcare safer, more effective, efficient, and affordable.
When I attended RESI, we were raising our Seed round, which ended up being oversubscribed and more than exceeded our goals. The conference helped us to connect with investors who were looking for a truly transformative medical device that meets patients’ needs in a global market with high revenue potential. We also met with pharmaceutical companies that were interested in MiniJect as a cost-effective, patent-centric drug delivery platform that could reliably deliver their formulation.
CD: When we spoke, you referenced RESI as being of great value in regard to timing and attendees. Can you tell us more about the appeal of RESI?
JW: The event at RESI provided us with international recognition in the healthcare industry during Bio Week in Vienna, Austria. It provided a platform for us to connect with investors and pharmaceutical companies that we would otherwise not have had the opportunity to meet. It is an excellent opportunity to meet with the right people.
CD: You all had some great success at RESI Vienna! You were RESI Innovation Challenge (now called the Innovator’s Pitch Challenge) winners. What did this success bring for Rx Bandz?
JW: Winning RESI Innovation Challenge was a huge honor. We were up against some of the most innovative companies. Our entire team was thrilled that our work was recognized on an international platform.
I believe when presenting to investors, they like to see that your company has been vetted and the technology has received awards and or accolades. The RESI conference and competition provide a wonderful opportunity to showcase technology and promote the organization. Besides a company’s innovative technology, it is critical that startups build relationships to form strategic partnerships and attract investment. Winning the International Innovation Challenge at RESI helped us to accomplish these goals.
CD: What advice would you like to provide to fellow entrepreneurs?
JW: I like to put the patient at the forefront of our efforts. It helps to know their stories and be inspired by the people who survived if they had our technology. There is no doubt life science start-ups face challenges that organizations in other industries might not, and it can be a difficult pathway. It makes everything easier when you put the patient first. In addition, be bold, build a great team, and be unrelenting in your pursuit to bring your technology to market.
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