By Brian Brus
Courtesy of The Journal Record
OKLAHOMA CITY – A new Oklahoma company has raised $1.5 million to develop a way to keep opioids out of the wrong hands.
i2E Inc., a nonprofit corporation that invests in Oklahoma-based technology startups, led the series-A investment round for Clear River Enviro through several of its managed funds: the Oklahoma Seed Capital Fund, SeedStep Angels, Accelerate Oklahoma Fund and Oklahoma Angel Fund 1. A remainder of $173,000 came from other investors.
Mark Macdonell, Clear River Enviro co-founder and chief executive, said the proceeds will be used to design the next iteration of RxDestruct, a patented product already in use at several surgery centers and hospitals across the country. Units in use will be upgraded as well.
The federal government provides a partial solution to the problem RxDestruct is designed to address, although it’s clunky and inefficient in the face of growing opioid abuse. The Drug Enforcement Administration holds two nationwide events each year at which prescription drugs are accepted for disposal. The most recent take-back in October yielded more than 450 tons of pills, the DEA reported.
The Secure and Responsible Drug Disposal Act of 2010 and a Drug Enforcement Administration rule update in 2014 allows pharmacies, clinics and the like to accept drugs for disposal year-round. However, it’s only recently that those interests have started enacting the potentially expensive option, which also requires close monitoring and product destruction.
The CVS pharmacy chain in Washington, D.C., for example, recently announced the installation of drug disposal bins at about 60 stores in that area. Law enforcement agencies in several Louisiana parishes announced they are doing the same.
“Secure