SteadyMed Therapeutics Inc., a San Francisco, CA and Rehovot, Israel-based drug delivery therapeutics company, has raised $10.4m in funding.
Backers include current investors KB Partners and Samson Ventures as well as individuals and private funds.
The company intends to use the proceeds to support the development and commercialization of its lead drug product that leverages its PatchPump® technology.
Led by Jonathan M.N. Rigby, CEO, SteadyMed Therapeutics provides a novel, prefilled, size efficient and disposable subcutaneous drug delivery system. It aims to complete pivotal clinical trials in 2013 followed by commercial launch in the U.S. in 2014.
The company’s range of PatchPumps can also be customized to deliver liquid drugs, including biologics, with a wide range of volumes and viscosities, in a consistent and controllable manner.