Credence MedSystems Receives a Strategic Investment From One of the World’s Leading Pharmaceutical Companies
Credence MedSystems announced today that Novartis has made a strategic investment in the Company. The investment will advance ongoing development and scaling of Credence’s innovative drug delivery systems, with an initial focus on the Credence Companion® Safety Syringe System. With the investment in Credence, Novartis seeks to support its patients, caregivers, and healthcare professionals by enhancing the safety and user experience during administration of Novartis injectable medications.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210125005138/en/
The Credence Companion allows pharmaceutical manufacturers to provide critical usability and safety features to their end-users. At the completion of the injection, the user receives end-of-dose cues indicating that the full dose has been delivered, and the needle automatically retracts into the syringe barrel. The enhanced usability can contribute to improved adherence, while the passive needle retraction helps protect users from accidental needlesticks and prevents reuse of the syringe.
Credence Companion technology integrates with the syringe before the medication is filled. To facilitate implementation for pharmaceutical manufacturers and offer this technology for a variety of applications and therapeutic fields, a fully integrated solution that is compatible with various syringe barrels is a prerequisite. The integrated approach to safety, where no additional devices need to be assembled after syringe filling, brings operational efficiencies to drug manufacturers. In support of this more efficient approach to the market, a collaboration between Credence and SCHOTT AG for the application of Credence Companion technology with SCHOTT’s pre-fillable glass and polymer syringe systems has recently been announced.
Jeff Tillack and John Merhige, Credence’s COO and CCO, jointly stated, “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.”
About Credence MedSystems, Inc.
Credence MedSystems is an innovator of drug delivery systems that solve unmet market needs for the pharmaceutical industry. Credence’s philosophy of Innovation Without Change allows pharma manufacturers to impress and protect their end users while preserving their existing processes, sourcing strategies and preferred primary package components. The Companion® family of syringe systems includes proprietary needle retraction technology, syringe reuse prevention and other critical safety and usability features. The Dual Chamber Reconstitution platform offers single-step mixing and injection for medicines that require reconstitution at the time of delivery. The Credence Connect™ brings digital connectivity to any prefilled syringe. Metered dose systems and other novel devices address the needs of specific therapeutic markets such as ocular therapies and cosmetic applications.
About Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
NY-IFF3.3.2021 22:17:09 CET | Press release
IFF Declares Dividend for First Quarter 2021
NV-RIMINI-STREET,-INC.3.3.2021 22:07:08 CET | Press release
Rimini Street Announces Fiscal Fourth Quarter and Annual 2020 Financial Results
UPF3.3.2021 19:45:03 CET | Press release
Universal Peace Federation: Millions of participants from 150 countries joined the live online broadcast of the 5th Rally of Hope
GA-AGCO3.3.2021 17:52:07 CET | Press release
AGCO Announces Farmer-First Strategy
IL-MOTOROLA-SOLUTIONS3.3.2021 17:29:05 CET | Press release
Norwegian Emergency Health Services Gain Nationwide Collaboration Through Motorola Solutions’ Unified Control Room Solution
H.I.G.-CAPITAL3.3.2021 17:10:14 CET | Press release
H.I.G. Capital Expands European WhiteHorse Team with the Addition of Michael Lucas
NZMP3.3.2021 17:02:13 CET | Press release
NZMP™ Customers Set to Benefit From New Carbonzero Certified Ingredients
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom