Credence MedSystems, a Menlo Park CA-based provider of drug delivery systems, raised $39.9M in funding.
The round was led by Novartis Pharma AG and Molex Ventures LLC.
The investment will be directed towards scaling of production capacity for the Credence Companion® and Dual Chamber Reconstitution Systems as well as development of other members of the company’s platform of innovative drug delivery systems, including its connected health portfolio.
Led by Jeff Shanley, President and CEO, John Merhige, CCO, and Jeff Tillack, COO, Credence MedSystems provides drug delivery systems for pharma manufacturers. Its lead products are:
- The Companion® family of syringe systems, which includes proprietary needle retraction technology, syringe reuse prevention and other critical safety and usability features
- The Dual Chamber Reconstitution platform, which offers single-step mixing and injection for medicines that require reconstitution at the time of delivery,
- The Credence Connect™, which brings digital connectivity to any syringe,
- Metered dose systems and other novel devices, which address the needs of specific therapeutic markets such as ocular therapies and cosmetic applications.