Novartis has invested in Credence MedSystems to support the development and scale-up of its drug delivery systems. Credence will use the money to advance an injectable system designed to improve the user experience and fit into existing biopharma processes.
In recent years, Credence has raised $27.8 million across its series A and B rounds, received a grant from the Bill & Melinda Gates Foundation and entered into a collaboration with Schott. The progress has been underpinned by Credence Companion, technology the California-based company created to address the shortcomings of injectable systems without diverging too far from established practices.
Novartis is the latest organization to see potential in the technology. The Swiss Big Pharma company has invested an undisclosed sum in Credence to support the scaling of its manufacturing capacity and commercial supply. Credence disclosed a $15.4 million investment from unnamed backers last year.
The drug delivery specialist said Novartis’ investment confirms “its interest in employing Credence technology for its injectable medicines.” Credence is trying to differentiate its Companion technology from other injectable systems on the strength of its usability and safety features.
Unlike most manufacturers, Credence does not use glue to affix its needles. The elimination of glue is one of a number of design decisions intended to maintain drug integrity and enhance patient safety.
Upon use, the needle retracts into the plunger rod and is secured inside the barrel, reducing the potential for needlestick injuries and preventing the reuse of the device. The dual-chamber version of the system supports simple reconstitution of the drug product.
Credence has sought to deliver those benefits in a design that is familiar to end users, fits in with existing biopharma processes, such as filling lines, simplifies secondary packaging operations and scales to commercial volumes. Executives at Credence called Novartis’ investment “an important validation” of their technology, adding that it will support the continued growth of the company.