Wednesday, October 20, 2021
Credence MedSystems, Inc. announced today that it has formed a strategic collaboration with Phillips-Medisize, a Molex company, a global leader in the design and manufacturing of solutions for the pharmaceutical drug delivery market.
The strategic relationship will support scaling of the manufacture of the Credence Companion® and Dual Chamber Reconstitution Systems. Other potential collaboration areas include autoinjectors and connectivity solutions. The Credence Connect™ Auto-Sensing Injection System is a connected solution for syringes targeting chronic disease management and enabling improved clinical trial compliance. Molex Ventures also participated in Credence’s most recent round of financing.
“We’re very excited about the close collaboration with Phillips-Medisize and the opportunity to manufacture our devices at their Letterkenny, Ireland site and new Poland facility, which are both located in close proximity to our customers and supply chain partners,” said Jeff Tillack, Credence’s Chief Operating Officer.
Paul Chaffin, President of Phillips-Medisize, said, “Phillips-Medisize has a long-standing working relationship with Credence. Our new collaboration will focus on scaling from a clinical line to large-scale manufacturing that includes high volume automation in a state-of-the-art plant located in Eastern Europe. The capabilities of Phillips-Medisize align effectively with Credence’s product portfolio, which fills important needs in the market, and we look forward to accelerating the delivery of their innovative injection system to market.”
John Merhige, Credence’s Chief Commercial Officer, stated, “With the previously announced $39.9 million funding, including investments from Molex Ventures and Novartis, we are able to take the important next steps toward putting our technology in the hands of users and providing critical safety and usability enhancements.”
