The investment is intended to support ongoing development and scaling of Credence’s drug delivery systems
Swiss drugmaker Novartis has announced an investment in novel drug delivery systems developer Credence MedSystems.
Novartis’ investment is aimed at improving the safety and user experience of its patients, caregivers and healthcare professionals during the administration of the company’s injectable medications.
Credence will use the investment to boost the ongoing development and scaling of its drug delivery systems. It will initially focus on the Credence Companion safety syringe system.
The Companion system is targeted at helping pharmaceutical manufacturers to offer critical usability and safety features to their end-users.
The system will enable users to get end-of-dose cues at the completion of the injection, which indicates that the full dose has been delivered. Later, the needle will automatically retracts into the syringe barrel, resulting in enhanced usability that promotes improved adherence.
Companion system to protect users from accidental needlesticks
In addition, the system is designed to protect users from accidental needlesticks and avoids reuse of the syringe, with the passive needle retraction.
Prior to filling of the medication, Credence Companion technology incorporates with the syringe, bringing in operational efficiencies to drug manufacturers.
Credence stated that a fully integrated solution that is compatible with various syringe barrels is needed to facilitate implementation for pharmaceutical manufacturers and offer the technology for different types of applications and therapeutic fields.
Recently, Credence has collaborated with SCHOTT for the application of its Companion technology with SCHOTT’s pre-fillable glass and polymer syringe systems.
In a statement, Credence MedSystems COO and CCO Jeff Tillack and John Merhige said: “We are excited to welcome Novartis as a strategic investor.
“This represents an important validation of Credence technology in the market and helps support our continued growth. We look forward to working together with Novartis to improve the user experience and contribute to better patient outcomes.”
In October 2019, Credence MedSystems secured a grant from the Bill & Melinda Gates Foundation to develop its dual-chamber drug delivery device for the global health setting.