Credence MedSystems, Inc., a Menlo Park, CA-based developer of injectable drug delivery devices, closed a $12.8m Series B financing.
The backers were not disclosed.
Led by Jeff Shanley, CEO, and Jeff Tillack, COO, Credence MedSystems is an innovator in injectable drug delivery devices. The Companion Safety Syringe System allows pharmaceutical manufacturers to protect their end users while preserving their existing processes, sourcing strategies and preferred primary package components. The Companion is available in luer needle, staked needle and dual chamber reconstitution configurations. Across the platform, the user performs the injection, receives end-of-dose cues and then the needle automatically retracts into the syringe, preventing reuse.
The company intends to use the funds to support scaling of its lead product, the Companion Staked Needle Syringe System, as well as to progress ongoing product development within its pipeline, including the Dual Chamber Reconstitution Safety Syringe and the connected health platform.