SteadyMed Therapeutics, Inc., a San Francisco Bay Area and Rehovot, Israel-based specialty pharmaceutical company, received a $3 million term loan from Square 1 Bank.
The company intends to use the proceeds to continue to develop its proprietary PatchPump technology and complete clinical trials for FDA Approval.
Led by President and CEO Jonathan Rigby, SteadyMed develops a pre-filled, large volume subcutaneous delivery system called PatchPump® in combination with its drug product to treat Pulmonary Arterial Hypertension (PAH).
The company’s PatchPump device aims to enable increased control over the delivery of liquid drugs via a programmable electronic system. SteadyMed also has several ongoing collaborations with Biopharmaceutical companies who are evaluating its PatchPump as the delivery platform for their large volume biologics pipeline.
SteadyMed is backed by KB Partners and Samson Ventures.
FinSMEs
08/04/2013