Market Overview

Credence MedSystems Closes $12.8 Million Series B Financing


Funding will support ongoing development and scaling of Credence's
family of innovative drug delivery products

Credence MedSystems, Inc., an innovator in injectable drug delivery
devices, announced the closing of a Series B financing resulting in
gross proceeds to the Company of $12.8 million.

Credence's mission was founded to become a leading provider of
innovative drug delivery devices to the pharmaceutical industry. By
focusing on delivering Innovation Without Change, the Company has
developed a platform of injectable drug delivery products designed to
maximize the effectiveness of the injection system while minimizing the
burden of implementation for its pharma customers.

Jeff Shanley, Credence's CEO, commented, "This investment comes at a
great time for us. We will use the funds to support scaling of our lead
product, the Companion Staked Needle Syringe System, as well as to
progress ongoing product development within our pipeline." Shanley
continued, "Increasing our manufacturing capability to commercial
volumes will support our collaborations with customers and strategic
partners. Additionally, we plan to progress development on other
innovative products, including our Dual Chamber Reconstitution Safety
Syringe and our connected health platform."

The Companion Syringe combines Credence components with existing syringe
or cartridge barrels and other primary package components from the
industry's leading suppliers. The combination yields a device designed
to protect users against accidental needlestick and prevent reuse, while
providing critical user-friendly features that self-injectors and
healthcare professionals prefer, as shown in various studies.
"Protecting users is vital; so is enhancing usability so that
medications are injected properly. This device is designed to do both,
while allowing pharma to choose their preferred components and preserve
their existing processes and supply chain strategies," said Jeff
Tillack, Credence's COO.

About Credence MedSystems, Inc.

Credence MedSystems is an innovator in injectable drug delivery devices,
offering our biopharma customers a simplified path to commercialization
of best-in-class delivery systems. The Companion Safety Syringe System
was born from Credence's philosophy of Innovation Without Change,
allowing pharmaceutical manufacturers to impress and protect their end
users while preserving their existing processes, sourcing strategies and
preferred primary package components. The Companion is available in luer
needle, staked needle and dual chamber reconstitution configurations.
Across the platform, the user performs the injection, receives
end-of-dose cues and then the needle automatically retracts into the
syringe, preventing reuse.

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