# Credence MedSystems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/credence-medsystems

- Industry: Medical Devices & Equipment
- Headquarters: Menlo Park, US
- Website: www.credencemed.com
- Total disclosed funding: $7.9M
- Latest round: Seed (Feb 1, 2016)
- Investors on record: 1

## About

Credence MedSystems, Inc., based in the US, develops innovative injectable drug delivery systems, enhancing safety and usability for pharmaceutical and biotechnology manufacturers through advanced technology solutions.Credence MedSystems, Inc. specializes in the design and manufacture of injectable drug delivery systems. Founded in 2011 in Menlo Park, US, the company has secured a total of USD 15.00 mn through its latest funding round in September 2021. Dan Thayer is the founder, with Jeff Shanley currently serving as CEO. The company has conducted 11 deals to date, focusing on innovative solutions that improve drug delivery processes.Credence MedSystems, Inc. specializes in innovative injectable drug delivery solutions tailored for pharmaceutical and biotechnology manufacturers. Their core product offerings include the Companion® Syringe System, which features integrated needle safety and usability enhancements designed to facilitate accurate and safe dosing for users of all experience levels. The Dual Chamber Syringe System enables the reconstitution and sequential delivery of drug constituents that require separate storage, addressing formulation and stability challenges inherent in modern drug development. These products serve a diverse client base, including pharmaceutical companies and biotechnological firms, primarily in North America and Europe, allowing for the safe, effective delivery of complex therapeutics while maintaining familiar processes and components. The systems are engineered to optimize operational efficiency and sustainability, catering to the evolving demands of healthcare professionals and patients alike.Credence MedSystems operates on a business-to-business model, supplying its drug delivery systems directly to pharmaceutical and biotechnology manufacturers. Their revenue is generated through transactions involving the sale of their flagship products, such as the Companion® Syringe System and the Dual Chamber Syringe System, as well as custom development solutions tailored to specific client needs. These transactions typically involve contractual agreements, where manufacturers procure the devices in accordance with their production requirements and timelines. Although specific pricing structures for individual products are not disclosed, the company's innovative offerings are positioned to address critical needs in drug delivery, thus supporting a steady demand and revenue stream from existing partnerships and collaborations.In September 2021, Credence MedSystems, Inc. raised USD 15.00 mn in venture funding from investors including Molex Ventures and Pensionskasse der Novartis Pharma. This funding will be utilized to scale production capacity for the Credence Companion® and Dual Chamber Reconstitution Systems, as well as to develop other innovative drug delivery systems, including the connected health portfolio. The Credence Connect™ Auto-Sensing Injection System, which integrates digital connectivity into any syringe, is among the products in development. Furthermore, the company plans to expand into new markets in Europe and Asia by 2023, leveraging its recent funding to support these initiatives.

## Funding rounds

- Seed, Feb 1, 2016, $7.9M — Maverick Capital

## Investors

- Maverick Capital (https://capitalatlas.ai/funds/maverick-capital) — Seed