Credence MedSystems, Inc., a Menlo Park, CA-based drug delivery technology company, completed a $15m Series A financing.
The company intends to use the funds for the continued development and commercialization of its injectable drug delivery device platform.
Led by Jeff Tillack, Chief Operating Officer, and John A. Merhige, Chief Commercial Officer, Credence MedSystems provides the Companion Safety Syringe System, which enables passive needle safety and reuse prevention while using existing primary package components.
The Companion is available in staked needle, luer needle, and dual chamber reconstitution configurations. In all cases, the user performs the injection, receives end-of-dose cues and then the needle automatically retracts into the syringe, which is permanently disabled from future use.
The company’s drug delivery products are sold to drug manufacturers for use with their injectable medications.